Agreement Reached for NSSB Equity Investment in QH PLUS CORPORATION of Vietnam
Oct 12, 2018
September 19, 2018
Nippon Steel & Sumikin Bussan Corporation
Nippon Steel & Sumikin Bussan Corporation (NSSB; head office in Minato Ward, Tokyo; Yasumitsu Saeki, President) today announced that ongoing studies
targeting proposed equity investment in QH PLUS CORPORATION, one of Vietnam’s leading building materials manufacturers and distributors, have resulted in the
decision to proceed with the plan. With the two companies having recently reached agreement on the details, the schedule now calls for NSSB to enter into
the following equity participation in QH PLUS.
Investment plan overview
1. Objectives
(1) Earn steady demand in the Vietnamese steel building materials market.
(2) Advance into Vietnam’s steel-frame business, a sector for which solid future growth is forecasted.
2. Equity investment plan profile
- Investment target QH PLUS CORPORATION
- Equity method Acceptance of the third-party allocation of 3 million new shares
- NSSB equity investment share 10.54%
- Investment schedule September 2018
3. QH PLUS CORPORATION: Corporate profile
Company name QH PLUS CORPORATION
Location 129Dien Bien Phu Street, Ward 15, Binh Thanh District, Ho Chi Min City, Socialist Republic of Vietnam
Business activities Steel product distribution, steel-frame manufacturing, reinforcing bar processing, coil center status
Representative director Nguyen Quang Huy
Capital 202.98 billion Vietnamese dongs (as of September 2018)
Inquiries regarding this release:
Corporate Communications Section , General Affairs & Corporate Communications Department
Nippon Steel & Sumikin Bussan Corporation
Tel: +81-3-5412-5003