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Acquisition of Thailand’s Siam Tinplate Co., Ltd. (STP) as a Subsidiary
Dec. 24, 2020
Nippon Steel Corporation
Since NIPPON STEEL CORPORATION (Nippon Steel) started investments toward Siam Tinplate Co., Ltd. (STP) in 1990, it has supplied tinplate and tin free steels for customers as a manufacturing and sales base in Thailand
Nippon Steel, Sumitomo Corporation, Metal One Corporation, and other existing shareholders have agreed towards having Nippon Steel acquire shares of other existing shareholders by around February 2021. With this, STP will become a consolidated subsidiary of Nippon Steel.
Thailand is a base for food can exports to many countries, and the demand for tinplate is expected to continue. With the consolidation of STP, Nippon Steel will reinforce its management foundation consistent with NS-Siam United Steel Co., Ltd. (NS-SUS), which is a manufacturing base for black plates.
[Overview of STP]
Company name Siam Tinplate Co., Ltd.
Business description Manufacturing and sales of tinplate and tin free steel
Location Map Ta Phut Industrial Estate, Rayong, Thailand
Establishment August 1988 (commercial production from February 1992)
Capital 800 million baht (approximately 2.6 billion yen)
Shareholder composition Current: Sumitomo Corporation, Metal One Corporation, NIPPON STEEL CORPORATION, NIPPON STEEL TRADING CORPORATION, TOMIYASU & CO., LTD., and Thailand shareholders
After consolidation: NIPPON STEEL CORPORATION (approximately 90%) and Thailand shareholders (approximately 10%)