Marubeni-Itochu Steel Inc announced that it has agreed to acquire the 59.12% stake that lead shareholder Ann Joo Resources Berhad holds in Malaysian metal press processor Anshin Precision Industries Sdn Bhd as well as the 8.69% share another Malaysian firm holds. By raising its equity stake in API from 11.69% to 79.5%, MISI will convert API into a consolidated subsidiary. At the same time, MISI will acquire the 64 stake that Sanritsu Co Ltd holds in die and jig manufacturer SA Networks Technical Industries Sdn. Bhd in which API has a 36% share, turning STI into a wholly owned API subsidiary.
The Malaysian auto industry appears headed for stable growth, and the country's car manufacturers are all moving to boost competitiveness by increasing local procurement ratios in response to the plan to implement a uniform five percent tax on fully assembled vehicle imports within the Asian Free Trade Area sometime between 2015 and 2016.
API and STI are group companies unique in Malaysia for their ability to handle everything from stamping to production of dies and semi-assembling in an integrated manner. The two firms are expected to broadly contribute to car and household appliance manufacturers because of their ability to offer comprehensive services. They can further boost their capabilities and fulfill customer requests by coordinating with MISI Group coil center Northern Steel Centre Sdn Bhd thereby contributing even more to the advancement of Malaysian industry.
Outline of AJR
Company name - Ann Joo Resources Berhad
Established - 1996
Location-Wisma Ann Joo, Lot 19391, Batu 8 1/2, Jalan Klang Lama 46000, Petaling Jaya, Selangor Darul Ehsan, Malaysia
Representative - Dato' Lim Kiam Lam
Business lines - Group holding company with manufacturing and steel trading company holdings
Outline of Sanritsu
Company name - Sanritsu Co., Ltd.
Established - 1957
Location - 1366 Tomida, Ohiramachi, Tochigi-shi, Tochigi
Representative - Shuichi Koyama, president and representative director
Business lines - Design and manufacture of dies and jigs, stamping, sheet processing, and welding
Outline of API
Company name - Anshin Precision Industries Sdn. Bhd.
Established - 1989
Location - Jalan Gergaji 15/14, 40200 Shah Alam, Selangor Darul Ehsan, Malaysia
Business lines - Stamping, welding, die manufacturing, etc
Main equipment - 17 transfer presses (80-, 150-, 200-, and 250-ton) and 24 tandem line presses (80-, 150-, 200-, and 300-ton)
Outline of STI
Company name - S.A. Networks Technical Industries Sdn. Bhd.
Established - 1995
Location - Lot 9, Persiaran Perusahaan, Section 23, 40200 Shah Alam, Selangor Darul Ehsan, Malaysia
Business lines - Design and manufacture of dies, assembling, welding, jig manufacturing, etc.
Main equipment -
Assembly-related equipment - 18 spot welders and 15 robotic welders
Die-related equipment - 3 wire cutters, 3 CNC machining units, 5 grinders, and more
Source - Marubeni
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