Merged steel giants set international trend

With consolidations and mergers now heading many a corporate agenda as the global credit crunch sees companies desperate for cost-cutting and new revenue streams, two Japanese metal manufacturers are claiming to be well ahead of the game.

Back in 2003, the Mitsubishi Corporation and the Nissho Iwai Corporation (now the Sojitz Corporation) agreed to merge their steel products divisions and created a new joint venture company, Metal One Corporation.

The two companies believed the merged operation would generate considerable cost savings and, in turn, provide greater flexibility and productivity to their combined client base.