Mitsui & Co., Ltd.("Mitsui") announced today that it has decided to establish Mitsui & Co. Steel Ltd.("MBS"), a new subsidiary company involved in trading, marketing and distribution of steel products focusing on Japanese domestic market, by consolidating its 4 existing subsidiaries for steel products; Mitsui Bussan Construction Materials Co., Ltd., SINTSUDA CORPORATION, Mitsui Bussan Plate Processing Corporation, and Mitsui & Co. Stainless and Special Steel Ltd.
The objective of establishing MBS is to create a successful steel products company with competitive cost structure and highest efficiency. The streamlining measures are to be implemented by April 1, 2008.
Mitsui & Co. Steel Ltd. (MBS)
|| ¥2.4 billion (to be increased up to ¥10 billion by 2010)
||Mitsui's wholly-owned subsidiary
||Takaharu Tannai (current Operating Officer, Iron & Steel Products
Business Unit of Mitsui)
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