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Sumitomo Metals Subsidiaries to Merge on January 1
12/28/2011 - Sumitomo Metal Industries Ltd. has signed a merger agreement with its wholly owned subsidiaries, Sumitomo Metals (Kokura), Ltd., and Sumitomo Metals (Naoetsu), Ltd. to merge operations on January 1, 2012, with Sumitomo Metals continuing as the surviving company.
Sumitomo Metal Industries Ltd. (Sumitomo Metals) has signed a merger agreement with its wholly owned subsidiaries, Sumitomo Metals (Kokura), Ltd., and Sumitomo Metals (Naoetsu), Ltd. to begin a new operation on January 1, 2012, with Sumitomo Metals continuing as the surviving company.
Following the merger, Sumitomo Metals (Kokura), a specialized manufacturer of special steel bars and wire rods, will become the Bar and Wire Rod Company, a newly established internal company with Yoshimitsu Kato as its President.
The business of Sumitomo Metals (Naoetsu), which produces a range of stainless steel and titanium products, will be included in the group’s former Titanium Division, which has been reorganized and renamed as Stainless Steel and Titanium Division. Yasuyuki Tozaki will become the reorganized Division’s General Manager.
Additionally, Kanji Kasahara, President of Sumitomo Metals (Noetsu), Ltd., will become deputy General Manager of the Stainless Steel and Titanium Division and General Manager of Naoetsu Steel Works.
The company said the merger will enable the organization to be more unified with improved management efficiency.
