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wiredInUSA - March 2014
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JFE Steel Corporation and JFE Bars
& Shapes Corporation of Japan are
planning to integrate their bar and wire
rod businesses from April 2014.
At present the JFE Steel Group has two
separatebar andwire rodunits, oneat JFE
Steel and the other at JFE Bars & Shapes
(an electric steelmaking business). The
company claims that integration “will
strengthen sales in overseas markets
including Asia and North America, where
increased demand is envisioned for
high-quality steel, mainly for automobiles
and construction machinery”.
It is hoped that, by integration, the JFE
Group will be more competitive against
other domestic and overseas producers.
JFE integration
The cable manufacturer Shilpi Cable is
issuing equity shares on a preferential
basis to two foreign institutional investors
– Aspire Emerging Fund and Highbluesky
Emerging Market Fund.
Aspire, a sub-account of Vaibhav
Investments Ltd, will pick up a 5.33
percent stake, with Highbluesky taking
a 9.9 percent interest in the company.
At an EGM, held by Shilpi Cable on 24
th
January, the company announced it will
also issue shares to Leman Diversified Fund
and Davos International Fund.
Shilpi Cable, part of the Shilpi group,
manufactures RF cables and a range of
cables used in the telecommunications,
automotive and energy sectors.
FIIs invest in cable