Investor Press Release
Quanex Announces Collaboration Agreement With Sanyo Special Steel Co., LTD
HOUSTON, Aug. 7 /PRNewswire-FirstCall/ -- Quanex Corporation (NYSE: NX), an industry-leading manufacturer of engineered materials and components for the vehicular products and building products markets, announced today that its MACSTEEL(R) engineered steel bar division has entered into an agreement with Sanyo Special Steel Company, LTD, to collaborate on a variety of technical and manufacturing topics related to the production of specialty steel for automotive markets. These two specialty steel companies will use their combined knowledge of market requirements to define and implement mutually beneficial projects. The agreement will cover technology exchanges on items such as the production of free-machining lead free steels, advanced production methods for the manufacture of high quality, specialty steels and the sharing of manufacturing competencies to develop steel products for the vehicular industry.
These collaborative efforts will be initially targeted toward Japanese automotive and component manufacturers in the North American vehicular products market. Satisfying the needs of this growing market segment is a key element for both companies. The agreement will provide opportunities for MACSTEEL(R) to increase its participation in this important segment of the vehicular products market and will allow Sanyo to strengthen its relationships with their Japanese customers.
"The combination of Sanyo's expertise as a world leader in specialty steel production and MACSTEEL's reputation for highly efficient operations, unmatched quality, delivery and award winning service, offers both companies the opportunity to define the next level of steel production standards," said Mark Marcucci, President - MACSTEEL(R).
Sanyo Special Steel Company, LTD, headquartered in Himeji, Japan, is a manufacturer of high quality bearing steels. Sanyo is renowned internationally for producing top-rated, ultra clean bearing steels.
For further information, visit the Quanex website at www.quanex.com or the MACSTEEL(R) website at www.macsteel.com .
Contacts: Jeff Galow, 713/877-5327 Valerie Calvert, 713/877-5305 MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X39654577
SOURCE Quanex Corporation
Web site: http: //www.macsteel.com http://www.quanex.com
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CONTACT: Jeff Galow, +1-713-877-5327, or Valerie Calvert, +1-713-877-5305, both of Quanex Corporation
CAPTION: NXLOGO QUANEX CORPORATION LOGO Quanex Corporation logo. (PRNewsFoto)[HD] HOUSTON, TX USA 05/17/1999