Shapco Inc., parent company of Santa Fe Springs, Calif.-based Kelly Pipe, and JFE Shoji Trade Corp., along with its subsidiary JFE Shoji Trade America, have reached an agreement that JFE Shoji will acquire 100% of the membership interests of Kelly from Shapco Inc.
The acquisition of Kelly Pipe is expected to close within 2014.
JFE Shoji is a Japanese trading company with revenues of approximately $18 billion per annum. It is a wholly owned subsidiary of JFE Holdings Inc., which also is the parent company of JFE Steel Corp., an integrated steel manufacturer that produces about 30 million metric tons annually of high-quality steel products.
JFE Shoji has 55 sales offices in 19 countries, including Los Angeles and Houston, and 26 group companies in 12 countries, including 16 steel-processing centers.
Kelly Pipe has provided more than 100 years of supply chain management in line pipe, OCTG and standard pipe in the North American and overseas markets.
Source: www.supplyht.com
