Nippon Steel & Sumikin Precision Forge and NS BOLTEN to Integrate their High-tension Bolt Businesses
Nov. 29, 2012
Nippon Steel & Sumitomo Metal Corporation
NIPPON STEEL & SUMIKIN PRECISION FORGE, INC.
NS BOLTEN Co., Ltd.
Nippon Steel & Sumikin Precision Forge and NS BOLTEN to Integrate
their High-tension Bolt Businesses
Nippon Steel & Sumitomo Metal Corp. (NSSMC) and its two consolidated subsidiaries, NIPPON STEEL & SUMIKIN PRECISION FORGE, INC. (NSPF) and NS BOLTEN Co., Ltd. (NSB), have recently agreed to integrate the high-tension bolt (HTB) businesses of the two subsidiaries and today concluded a basic agreement.
1. Purpose of business integration
In the current harsh business environment, by consolidating the HTB businesses of NSPF and NSB, the Nippon Steel & Sumitomo Metal Group will combine the manufacturing technologies and product development capabilities that the two companies have so far developed, thus enhancing the group’s ability to respond to customer needs and making its production systems more efficient, in order to thereby establish a stronger foundation relating to its HTB business.
After the integration of its HTB business into NSB, NSPF will strive to develop and expand its overall business by further enhancing the competitiveness of its automotive parts business, which it has focused on in the past.
2. Outline of business integration
(1) Method
NSPF will transfer its HTB business to NSB to consolidate the HTB businesses of the two companies. With this integration, the business name of NSB will be changed to NIPPON STEEL & SUMIKIN Bolten CORPORATION.
After the business integration, the operation of major HTB production lines at NSPF’s Handa factory will be discontinued by the end of May 2013, while obtaining the understanding of customers, and the group’s HTB production functions will be concentrated on NSB’s Osaka and Yukuhashi factories. Until then, NSPF continues HTB production on contract with NSB.
(2) Schedule
November 29, 2012: Conclusion of a basic agreement
Late December 2012: Conclusion of a business transfer agreement (final agreement) (scheduled)
January 1, 2013: Change of NSB’s business name (scheduled)
January 4, 2013: Business transfer becomes effective (scheduled)
3. Overview of NSPF and NSB
NIPPON STEEL & SUMIKIN PRECISION FORGE, INC. | NS BOLTEN Co., Ltd. | |
| Major operations | HTB for construction, automotive parts, etc. | HTB for construction |
| Established | July 1970 | August 2004 |
| Location | Handa City, Aichi Prefecture | Osaka City |
| Representative | Hideo Okuda | Jun Kawahara |
| Shareholder composition | Nippon Steel & Sumitomo Metal (100%) | Nippon Steel & Sumitomo Metal (70%) Nakayama Mitsuboshi Steel Products, Ltd. (30%) |
| Net sales | Approximately 10 billion yen | Approximately 6 billion yen |
| Number of employees (as of the end of 2012) | 229 | 144 |
Inquiries:
Public Relations Center, General Administration Division, Nippon Steel & Sumitomo Metal Corp.
Tel: 81-3-6867-2135 & 81-3-6867-2976
General Affairs and Personnel Administration Office, General Administration Division, NIPPON STEEL & SUMIKIN PRECISION FORGE, INC.
Tel: 81-569-22-1811
Administrative Division, NS BOLTEN Co., Ltd.
Tel: 81-6-6682-3267
