Japanese steelmaker Sumitomo Metal Industries Ltd (Sumitomo Metals) has announced that it has signed a merger agreement with its wholly owned subsidiaries, Sumitomo Metals (Kokura), Ltd. and Sumitomo Metals (Naoetsu), Ltd. The merger will be effective as of January 1, 2012.
Special steel bars and wire rods manufacturer Sumitomo Metals (Kokura) will become the bar and wire rod company within Sumitomo Metals, while the business of Sumitomo Metals (Naoetsu), i.e., production of various products of stainless steel and titanium, will be included in the stainless steel and titanium division.