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Oct. 25, 2012
Nippon Steel & Sumikin Metal Products Co., Ltd.
Sumitomo Corporation
Sumisho Tekko Hanbai Co., Ltd.
Kyoei Steel Ltd.

Establishment of joint venture to manufacture and sell steel construction materials in Vietnam

Nippon Steel & Sumikin Metal Products Co., Ltd., Sumitomo Corporation, Sumisho Tekko Hanbai Co., Ltd., and Kyoei Steel Ltd., in a collaborative effort with Bacviet Steel Joint Stock Company (hereinafter "BVS"), which processes, sells, and distributes steel products in Vietnam, established Nippon Steel & Sumikin Metal Products Vietnam Co., Ltd. (hereinafter "Nippon Steel & Sumikin Metal Products Vietnam"), a joint venture with the objective of manufacturing and selling steel products for architecture and civil engineering in the region.

 

In Vietnam, construction investment is still strong and large-scale urban development, which is accompanied by the construction of shopping centers and high-rise buildings, and infrastructure development, which includes sewer systems, subways, and highways, is expected to make certain progress going forward. In an effort to secure this demand both quickly and adeptly, the four aforementioned Japanese companies and BVS embarked on the establishment of Nippon Steel & Sumikin Metal Products Vietnam as a steel building materials manufacturing and sales joint venture. The investment for this joint venture was recently approved by the provincial government of Bac Ninh.

 

Nippon Steel & Sumikin Metal Products Vietnam will commence operations by acquiring the structural steel pipe manufacturing business of the BVS group. In addition to plans to expand the domain of its core operations going forward, the company aims to introduce processed steel products for architecture and civil engineering that satisfy the needs of the region's market and also the markets in neighboring countries.

 

<Overview of Nippon Steel & Sumikin Metal Products Vietnam>
 -- Company name :  Nippon Steel & Sumikin Metal Products Vietnam Co., Ltd.
 -- General Director & President : Kenjiro Dodo
 -- Location :  Que Vo, Bac Ninh Province, Vietnam (headquarters and factory)
 -- Business description : Manufacturing and sales of steel building products
 -- Capital :   Approximately US$2.58 million (approximately ¥200 million)
 -- Shareholder ratio : Nippon Steel & Sumikin Metal Products Co., Ltd. 48%

                                         Sumitomo Corporation 22%

                                         Sumisho Tekko Hanbai Co., Ltd. 3%

                                         Kyoei Steel Ltd. 3%

                                         Bacviet Steel Joint Stock Company 24%
 -- No. of employees : Approximately 50 employees

 -- Established :  October 2012

 

[Reference 1]
<Nippon Steel & Sumikin Metal Products Co., Ltd.>
 -- Location :  2-17-12 Kiba, Koto-ku, Tokyo
 -- Representative Director & President : Kiichiro Masuda
 -- Date of establishment : April 1973
 -- Capital  :  ¥5.912 billion
 -- Investor :  Wholly-owned by Nippon Steel and Sumitomo Metal Corporation
 -- No. of employees : 1,137 employees (consolidated basis)

 

<Sumitomo Corporation>
 -- Location :  1-8-11 Harumi, Chuo-ku, Tokyo
 -- President & CEO : Kuniharu Nakamura
 -- Date of establishment : December 1919
 -- Capital :  ¥219.278 billion
 -- No. of employees : 5,185 employees (72,087 on a consolidated basis)

 

<Sumisho Tekko Hanbai Co., Ltd.>
 -- Location :  1-8-12 Harumi, Chuo-ku, Tokyo
 -- President & CEO : Hayashi  Otsuka
 -- Date of establishment : January 1981
 -- Capital  :  ¥310 million
 -- Investor :  Wholly-owned by Sumitomo Corporation
 -- No. of employees : 214 employees

 

<Kyoei Steel Ltd.>
 -- Location : 1-4-16 Dojimahama Kita-ku, Osaka City
 -- President & Representative : Koji Morita
 -- Date of establishment : August 1947
 -- Capital : ¥18.516 billion
 -- No. of employees : 679 employees (consolidated basis)

 

<Bacviet Steel Joint Stock Company (Listed on the first section of the Hanoi Stock Exchange)>
 -- Location :  Ho Chi Minh, Vietnam (headquarters)
 -- Chairman & CEO :  Tran Anh Vuong
 -- Date of establishment : March 2000 (listed shares in 2010)
 -- Capital :  Approximately VND108.0 billion (approximately ¥400 million)
 -- No. of employees : Approximately 350 employees (consolidated basis)

 

 

Inquiries

Corporate Communications Department,
Sumitomo Corporation

TEL:+81-3-5166-3100News Release Contact Form

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