NKK Corporation announced today that it will set up three new companies by spinning off the below-listed operations under an ongoing effort to restructure and improve profitability. The companies will begin operating in July.

1. Surface-treated steel sheet operations of Keihin Works

   The new company, NKK Steel Sheet & Strip Corporation, will utilize the Keihin Works' production lines to manufacture and sell high-quality, technically superior galvanized and color-coated steel sheets for building materials, specializing in meeting customer needs for small lots, short delivery time and other specific requirements.

2. Ferro-chrome and ceramic operations of Toyama Works

   The new company, NKK Material Co., Ltd., Japan's only integrated manufacturer and seller of ferro-chrome products, will offer special capabilities in delivery and other areas to develop markets for value-added, high-quality ferro-chrome and ceramic products.

3. Steel-frame fabrication operations of Shimizu Works

   This new company, NKK Shimizu Co., Ltd., will design, produce and sell, as well as construct and repair, steel frames and other structures, concentrating on improving the productivity and flexibility of these operations to enhance competitiveness and meet specific user needs.

   In addition to the above three companies, NKK also reorganized its group's bars and shapes operations as NKK Bars & Shapes Co., Ltd. this past April. Preparations are also under way to spin off the Keihin Works' welded pipe operations as a separate company, which is scheduled to start operating in October.