NKK and Kawasaki Steel consolidate operations

摘要

NKK and Kawasaki Steel Corporation have entered into a 'memorandum of understanding' with an intention of combining their entire operations, following the approval by the board of directors of both companies.By October 2002, the two companies plan to establish a 'holding' company, which will go public on the Tokyo Stock Exchange. NKK and Kawasaki Steel will then go private. By April 2003, full integration is planned by forming new entities on the basis of business segments. The name, location, board members and other details will be decided by the two companies.