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JFE Steel Group Advances Plan to Integrate Electric Furnace Operators
10/31/2011 - JFE Steel announced details for a merger plan to consolidate operations for four group companies that produce steel using electric arc furnaces.
JFE Steel Corp. announced details of a merger plan to consolidate operations for four group companies that produce steel using electric arc furnaces.
Under the plan for integration of the company’s electric-furnace based operations, first announced earlier this year, the four companies — JFE Bars & Shapes Corp., Daiwa Steel Corp., Tohoku Steel Corp., and Toyohira Steel Corp. — will be merged into a new company, JFE Bars & Shapes Corp., on April 1, 2012.
The new JFE Bars & Shapes is expected to be a wholly owned subsidiary of JFE Steel.
The company said that Hiroshi Nomura, currently a Vice President of JFE Steel, will serve as President of JFE Bars and Shapes Corp. The company will be based in Tokyo at the current headquarters of JFE Bars & Shapes.
