Restructuring/Consolidating Tubular Coupling Machining Business

Apr. 08, 2016

Nippon Steel & Sumitomo Metal Corporation
Nippon Steel & Sumikin Fine Technology Co., Ltd.
Nippon Tubular Products Co., Ltd.


Restructuring/Consolidating Tubular Coupling Machining Business

Announcing a merger between Nippon Steel & Sumikin Fine Technology Co., Ltd. and

      Nippon Tubular Products Co., Ltd.

We are pleased to announce that Nippon Steel & Sumikin Fine Technology Co., Ltd. (“Nippon Steel Sumikin Fine Tech”) and Nippon Tubular Products Co., Ltd. (“Nippon Tubular Products”), each a 100% subsidiary of Nippon Steel & Sumitomo Metal Corporation, have agreed to merge as of July 1, 2016 to form Nippon Steel & Sumikin Precision Machining Co., Ltd. (hereinafter referred to as the “Merger”), whereupon Nippon Steel Sumikin Fine Tech shall be the surviving company. Today the two companies have signed a merger agreement.

1. Purpose of the Merger
Over many years both of the aforementioned companies have been contributing to the Nippon Steel & Sumitomo Metal group as a group company with high technological capabilities in charge of manufacturing/machining of couplings used in oil well tubular products. The two companies have also applied their precision machining technology related to tubular couplings to other fields. This wider application of their technology has been highly appreciated by a wide range of customers.

The oil well tubular business is currently experiencing a tough situation due to low oil prices worldwide. In such circumstances, by means of the Merger the two companies are seeking to amalgamate their respective precision machining technology and know-how that have been developed over the past years and thereby build an optimum system for the production of oil well tubular couplings and to realize high cost-competitiveness. The two companies also seek to be capable of meeting customers’ versatile needs in fields of machining other than well tubular products.

2. Outline of the Merger
(1) Merger date (Effective date of merger)
    July 1, 2016
(2) Method of merger
   A method whereby Nippon Steel Sumikin Fine Tech will be the surviving company and
   Nippon Tubular Products, the non-surviving company.
(3) Overview of the merging parties
  Nippon Steel Sumikin Fine Tech Nippon Tubular Products
 Representative Hideki Hora, Representative
 Director & President
 Masanori Nakamura, Representative
 Director & President
 Location of Head Office Kashiwara City,
 Osaka Prefecture
 Nakatsu City,
 Oita Prefecture
 Month and year
 of foundation
 December, 1945 July, 1982
 Main business Machining of oil well tubular
 couplings; precision machining
 Machining of oil well tubular
 couplings; precision machining
 Sales (for the period
 ended March 2015)
 6,290 million yen 1,879 million yen
 Capital
 (as of April 1, 2016)
 500 million yen 200 million yen
 Number of employees
  (as of April 1, 2016)
 221 73

(4) Corporate name and address after merger (on July 1, 2016)
 Corporate name Nippon Steel & Sumikin Precision Machining Co., Ltd.
 Location (business base) Kashiwara City, Osaka Prefecture (head office);
 Nakatsu City, Oita Prefecture

For further details, please inquire at:
Nippon Steel & Sumitomo Metal Corp. Public Relations Center, General Administration Division.
  Phone 03-6867-3419/2146/2977/2135
Nippon Steel & Sumikin Fine Technology Co., Ltd. Administration & Human Resources Group, Operations Department. Phone 072-972-1961
Nippon Tubular Products Co., Ltd. Administration Section, Operations Department.
 Phone 0979-22-1010




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