JFE Steel Increases Hot Coil Supply to Pakistan Re-roller

JFE Steel increases hot coil supply to International Steels Limited (ISL), Pakistan cold rolled steel sheet and galvanized steel sheet maker. JFE Steel acquired 4.74% shares in ISL at approximately 300 million yen for stable partnership with ISL. JFE Steel eyes technical assistance for ISL and takes in growing steel sheet market of the region. JFE Steel is increasing hot coil supply destinations through investment in overseas re-rollers in order to follow the demand growth in emerging countries.

ISL’s capital fund is 4.35 billion Pakistan rupees. Sumitomo Corporation holds 9.08% shares in ISL while International Finance Corporation has 9.3% shares. ISL started operation of a hot dip galvanizing line with capacity at 160,000 tonnes per year in June 2010 and a cold rolling mill with capacity at 280,000 tonnes per year in late 2010. JFE Steel has supplied hot coil to ISL. JFE Steel will increase the supply volume to 50% of ISL’s total consumption.

International Industries Limited, Pakistan major steel tube maker, established ISL in 2009. ISL sells steel sheet mainly for building materials. JFE Steel will provide technical assistance when ISL enters production of high quality cold rolled sheet in future.