Mitsui & Co., Ltd. ("Mitsui") announced today, upon completing merger of Mitsui Steel, Inc. ("Mitsui Steel"), a core subsidiary for North American steel products distribution business, with Mitsui & Co. (U.S.A.), Inc. ("Mitsui USA") in April 2008, it has decided to transfer principal business of Mitsui Steel to Steel Technologies, Inc. ("Steel Tech"), aiming to enhance services and to improve managerial efficiency. The business to be transferred is steel sheet distribution business for end-users in the field of automobile, home electronics and construction materials.
In order to provide more added value to steel marketing and logistic, Mitsui USA acquired Steel Tech, a company operating steel processing facilities throughout North America, in June 2007.
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
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