JFE Steel to stop producing welding materials
Japan's JFE Steel, announced that by spring 2005, it will cease to produce welding materials because it can now rely on those produced by Kobe Steel Ltd, following the two companies' integration in spring 2003. Accordingly, at the end of March 2005 JFE Holdings will close its welding plant in Chiba district which is part of its East Japan Works. The plant has been making roughly 30'000 tons of welding materials per year. In line with the deal, JFE Steel will withdraw from management of their joint production company on April 1, 2005 by selling its 20% stake in the joint venture to Kobe Steel. However, JFE Group will continue selling welding materials by obtaining them from Kobe Steel and marketing them through its sales company, JFE Welding Rod Co.