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June 16, 2005
JFE Steel Corporation

JFE Steel and ThyssenKrupp Stahl Form Joint Venture
- JEVISE Corporation to Promote EVI -


TOKYO - JFE Steel Corporation (JFE) announced today that it has joined with ThyssenKrupp Stahl AG of Germany (TKS-CS) to establish a joint venture, JEVISE Corporation, to promote early vendor involvement (EVI) with global automakers. The new company will take JFE's EVI activities to a more advanced level through valuable knowledge and technologies that TKS-CS has been applying in Europe.

Since JFE and ThyssenKrupp Steel AG (TKS), the parent company of TKS-CS, signed a comprehensive cooperation agreement in April 2002, both companies have been jointly and intensively working on automotive steel products and related research and development activities. They have realized the following achievements.

  1.   Technology transfer from JFE of special high-tensile strength automotive steel to Japanese OEM.
  2.   Installation of a tailored blank facility by a TKS group company at JFE's West Japan Works (Kurashiki).
  3.   Establishment of common specifications for Japanese and European OEMs.
  4.   Cross-licensing contract for each company's "Only one" products, JFE's NANO and TKS's CP (complex-phase) steel.

With the growth of high strength steel applications for lighter, safer and more fuel efficient automobiles, the importance of advanced steel product application technology is increasing significantly. As globally positioned steel product suppliers, both JFE and TKS are already experts in steel auto body development and can fulfill the expectations of automotive manufacturers through EVI. Both companies are now able to offer diverse engineering services from the application of conventional and high strength steel grades to the application of new steel products, including new manufacturing methods.

This automotive steel application field is one of the most important fields in the cooperation between JFE and TKS, and they have established a special working group to conduct joint studies and activities. TKS is well known as the most advanced steel manufacturer in this field, partly through cooperative work with its affiliated automotive parts manufacturer. JFE and TKS have built up mutual recognition by combining expertise to create a new win-win scenario.

Outline of Joint Venture Company:

   
Company name: JEVISE Corporation
Headquarters: 2-2-3 Uchisaiwai-cho, Chiyoda-ku, Tokyo, Japan
Capital: 10 million yen
Shareholding: 50% each by JFE and TKS-CS
Representative Director and President: Kazuhiro Hirohata
Representative Director and Vice President: Klaus W. Blümel

Outline of ThyssenKrupp Steel AG:

   
Headquarters:   Duisburg, Germany
Business:   Integrated steel manufacturer
Crude steel production:   About 17.6 million tons (2004 CY)
Main products:   Coated, cold rolled, hot rolled, tinplate and other various flat rolled steel
Sales:
13,700 million euro (2003/2004 FY)
Income before tax:  
911 million euro (2003/2004 FY)

JFE and TKS intend to continue and accelerate their cooperation activities in order to further realize a win-win scenario and to strengthen their global automotive steel supply network for OEMs.




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