November 20, 2003 JFE Holdings, Inc. JFE Steel Corporation
	JFE Steel Makes Progress in Optimizing Production Structure and Consolidating Facilities
	TOKYO - JFE Holdings, Inc. announced its First Medium-term Business Plan on January 28, 2003, which includes plans to close two blast furnaces and 15 rolling lines as part of an effort to optimize JFE Steel Corporation's production structure and consolidate its facilities. Of the 15 rolling lines, the company has reached a final decision on three, including two production lines that had been slated for further study and one line for which the timing of closure had yet to be determined. Details are as follows: 1. Closure of Fukuyama No.1 tin-free steel line (TFL) As part of ongoing efforts to consolidate TFL facilities, the No.1 TFL at the West Japan Works (Fukuyama district) will be closed on or around the end of September 2004. Manufacture of tin-free steel products will be concentrated in the Chiba district. The Fukuyama No.2 TFL will focus on the manufacture of laminated steel sheets using tin-free steel as substrate. Production technology for the special items currently manufactured at the No.1 TFL will also be moved to Chiba. 2. Closure of spiral welded pipe mills The No.1 Spiral Welded Pipe Mill at the Anegasaki Works of the group company NKK Bars & Shapes Co. will be closed in December 2003. The No.2 Spiral Welded Pipe Mill at the Chita Works and the No.2 Spiral Welded Pipe Mill at the Anegasaki Works of NKK Bars & Shapes were closed in April this year, as announced in the Medium-term Business Plan. 3. Closure of Chiba No.3 continuous galvanizing line (CGL) JFE had been studying the timing for closure of the Chiba No.3 CGL, and has decided to terminate operation in the latter half of the fiscal year ending March 2005. Although demand for CGL products remains strong in the automotive and appliance sectors in Asia, particularly China, the Chiba No.3 CGL will nevertheless be closed by improving the overall operating rate of JFE Steel's CGL facilities. Reference The table below summarizes progress to date on facility consolidation. JFE Steel is eliminating redundant facilities and maximizing the utilization of remaining facilities in order to further reduce costs and build a more robust operating structure. Additional line closure decided since the announcement of Medium-term Business Plan
	For further information, please contact: Public Relations Sec., General Administration and Legal Division JFE Holdings, Inc. Tel: +81-3-3217-4030   Public Relations Sec., General Administration Dept. JFE Steel Corporation Tel: +81-3-3597-3166
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