Japanese steelmaker JFE Steel Corporation has announced that, together with JFE Bars & Shapes Corporation, a JFE Group electric furnace-based steelmaker, they will integrate their bar and wire rod businesses on April 1 of the current year.
JFE Group currently has two separate bar and wire rod units, one at JFE Steel and the other at JFE Bars & Shapes. Integration will strengthen sales in overseas markets including Asia and North America, where increased demand is envisioned for high-quality steel mainly for automobiles and construction machinery. JFE Group also expects to raise its competitiveness versus rival mills in Japan and overseas. JFE also stated that the move will enhance customer convenience by integrating business contacts, upgrading delivery logistics and speeding up research and development efforts.