Hanwa Co. announced on Thursday the firm acquired 5% share in Vietnamese steel distributor, SMC Trading Investment for around 100 million yen. Hanwa tries to expand the supply network for Vietnamese transplants of Japanese buyers, local contractors and fabricators through utilization of SMC’s local sales and processing network. Hanwa has strengthened its sales power in Asian construction market by share acquisition in local wholesalers and fabricators.In Vietnam, Hanwa has invested in Nippon Steel Trading’s coil center while established the own subsidiary Hanwa Vietnam in December 2011. Share acquisition in SMC is expected to contribute to local sales expansion of shape steel, steel plate, steel wire rod and other flat products through strategic partnership. SMC produces and sells steel and other metal construction materials as well as promotes construction projects. SMC posted 33 billion yen of net sales with 321 million yen of recurring profit in 2011. SMC participates in a joint company with Sumitomo Corporation, SMC-Summit, to sell and process construction steel materials.
Japan Steel Scrap Composite Prices (Sangyo Press)09/18/2020
|26600YEN (-)||28600YEN (-)|
|251.32US$ (0.54)||270.22US$ (0.59)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)