Metal One Corporation (headquartered in Minato-ku, Tokyo; president: Moriji Kanada) is pleased to announce it has acquired all outstanding shares of Seikoh Co., Ltd. (headquartered in Minato-ku, Osaka-shi; president: Katsu Kimura) as of April 1 and converted the company into a consolidated subsidiary.
Founded in 1968, Seikoh has plants in Taisho and Minato Wards in Osaka City and Himeji City in Hyogo Prefecture and handles the processing and sales of bar steel and wire rods, with a focus on stainless steel plates. The company had approximately ¥14 billion in sales volume in the period ended May 2007 and about 130 employees.
Metal One has sent Masanori Uchida to take over as president as of April 1, with the former president, Katsu Kimura, assuming the post of chairperson.
The acquisition, which is a part of Metal One's stainless steel Value Chain Strategies, marks the first time the company has bought a stainless steel plate business with the intention of turning it into a subsidiary. From here on out, the Metal One Group's overall capabilities will be marshaled to further enhance customer service as it seeks to expand consolidated profits and its share in transaction volume.