Metal One Establishes Coil Center in India

Naoto Matsuoka, the president of Metal One, Japanese major steel dealer, said at a press conference on Thursday that Metal One will establish a new coil center in India and participate in coil center reorganization by Usiminas, Brazilian major steel maker, both within fiscal 2009 ending in March 2010. The firm will expand business chances in emerging countries.

Metal One enhances domestic business by restructuring of coil centers while invests for ecology and new energy industries or overseas businesses.The firm aims to increase offshore sales rate to 50% in future by shifting management resources and man powers to overseas. The current offshore sales rate is 35%.

Mr. Matsuoka explained about Metal One’s new organization started on October 1st.

The 1st department targets industrial machine, heavy industry and energy industry. The 2nd department handles steel products mainly for automobile and electric appliance industry, especially steel sheet. The 3rd department covers steel products mainly for building materials, semi-finished steel and ferrous scrap. Overseas sales department responses to offshore markets.