JFE : Announcement of Consolidation of JFE Kankyo Corporation and Japan Recycling Corporation

JFE Engineering Corporation (President and CEO: Hajime Oshita, Head Office: Chiyoda-ku, Tokyo) has decided to consolidate the operations of two companies in the JFE Engineering Group, JFE Kankyo Corporation (President: Masaaki Sakurai, Head Office: Tsurumi-ku, Yokohama) and Japan Recycling Corporation (President: Hitoshi Osugi, Head Office, Chuo-ku, Chiba) on October 1 of this year. The consolidated company will be called JFE Kankyo Corporation.

In recent years, legal regulations in connection with waste treatment have been strengthened, and this has increased the burden on waste generator companies to perform appropriate treatment. Under these circumstances, there is a heightened need to consign treatment to a 'reliable company' for 'one-stop treatment of all types of waste.' To meet this need, the JFE Engineering Group decided to consolidate the two companies in order to respond to diverse recycling needs at a high level and further expand and develop this business.

As a result of this consolidation, it will be possible to strengthen the line-up of services and further improve the financial base and internal control, and to establish a system that allows customers to consign waste treatment with a greater sense of security. This move will also lead to a reduction of customers' transportation costs by effectively utilizing the treatment centers of JFE Kankyo in Yokohama/Kawasaki and Japan Recycling in Chiba.

In the future, the JFE Engineering Group will continue to contribute to the creation of a recycling society with the world's most advanced technologies.

[Outline of JFE Kankyo Corporation]

[Outline of Japan Recycling Corporation]

[Outline of new company]