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JFE Refractories Corp & Shinagawa Refractories Co Ltd	Update Date: 10/28/08
Date Announced: 10/09/08
Value (million $USD): n/a

Status: Pending

TRANSACTION DETAILS
Date Announced	10/09/08
Date Originally Announced	10/09/08
Format	Merger	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	n/a
Value	n/a	Advisor Fees	n/a

SYNOPSIS
JAPAN - Shinagawa Refractories Co Ltd planned to merge with JFE Refractories Corp, a 99% owned unit of JFE Holdings Inc subsidiary JFE Steel Corp.

TARGET
Name	JFE Refractories Corp
Industries	Nonclay refractories; Steel works, blast furnaces, and rolling mills
City	Ako-Shi, Hyogo
State	n/a
Nation	Japan
Incorporated in	n/a
Public Status	Subsidiary
Business Description	JFE Refractories Corp, based in Hyogo, Japan, manufactures and markets refractories. It is also engaged in installation of steel making and combustion furnaces. The Company was founded in 1938.
Advisors	NULL
Target Sales	319.8 million U.S. Dollar 31.93 billion Japanese Yen

ACQUIROR
Name	Shinagawa Refractories Co Ltd (Tokyo 1 : 5351)
Industries	Nonclay refractories; Steel works, blast furnaces, and rolling mills
City	Tokyo
State	n/a
Nation	Japan
Incorporated in	n/a
Public Status	Public
Business Description	Shinagawa Refractories Co Ltd is headquartered in Tokyo, Japan. The Group's principal activities are manufacturing and marketing refractors for steel makers. The Group's operations are carried out through the following divisions: Refractors; Engineering, and Real estate & Leisure. The Refractors division is involved in firebricks, fine ceramics, ceramic fiber, and chemical products, lime and clay materials. The Engineering division is involved in design and construction of furnaces such as industrial furnaces and incinerators. The Real estate and leisure division deals in real estate rental and leasing, golf course operations and public baths. The Company was founded in 1903.
Advisors	NULL
Acquiror Sales	816.6 million U.S. Dollar 86.60 billion Japanese Yen

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