May 7th, 2024
JFE Shoji Corporation

Acquisition of Shares in a Manufacturer of Steel Framing
Based in the United States and Australia
JFE Shoji America Holdings Inc. (CEO: Tadao Takahashi), a U.S. subsidiary of JFE Shoji Corporation (Presidentand CEO: Toshinori Kobayashi), has entered into a stock purchase agreement with Studco Global Holdings, Inc.
(Head Office: Webster, New York), a manufacturer of steel framing and door related products for construction in theU.S. and Australia, to acquire 100% ownership of the U.S. and Australian operating entities. Plans are underway topromptly proceed with the necessary regulatory approvals and other procedures to complete the closing.
The U.S. operating entity of the Studco Group is headquartered in Webster, New York, and operates primarily inthe eastern region of the U.S. Meanwhile, the Australian operating entity is based in Melbourne, Victoria, where it
manufactures its products. Additionally, it maintains three sales offices and warehouse across Australia, establishingitself as the second-largest player in the Australian steel framing market.
This acquisition aligns with JFE Shoji Corporation's strategic objectives outlined in the 7th Medium-Term
Management Plan, which emphasizes the expansion of the overseas construction materials business. Through thisM&A transaction, following the acquisition of CEMCO in 2022 (Head Office: Los Angeles, California, specializingin the manufacture of steel framing materials), efforts are directed towards establishing a stronger presence in theU.S. Furthermore, through enhanced collaboration with CEMCO, measures will be implemented to better address
the expected increase in demand for steel framing materials in the U.S.
Australia’s steel consumption has remained stable at approximately 6 million tons, with building materials
accounting for around 70% of this figure. Considering the anticipated population growth, the demand for building
materials in Australia is expected to continue to increase. This acquisition presents an opportunity for JFE Shoji tofully enter the Australian steel framing market and effectively meet its demand.
Moving forward, Australia is designated as a critical region. In addition to the conventional raw materials
business, initiatives will be enhanced to expand into the steel and decarbonization-related businesses.
【Overview of Studco Global Holdings】
Company nameStudco Global Holdings, Inc.

Establishment

2016

Head Office

Webster, New York (United States)

Business Overview

Manufacture and sale of steel framing materials and door related products【Overview of U.S. Operating Entity】
Company nameStudco Building Systems US, LLC

Establishment

2005

Head Office and Plant
Location

Webster, New York (United States)

Business Overview

Manufacturing steel framing, accessory parts, door related products, etc.

【Overview of Australian Operating Entity】
Company nameStudco Australia Pty Ltd

Establishment

1986

Head Office and Plant
Location

Melbourne, Victoria (Australia)① Sydney, New South Wales② Brisbane, Queensland③ Perth, Western Australia

Sales office & Warehouse
Locations
Business Overview

Manufacturing steel framing, accessory parts, door related products, etc.

*About the Studco Group

Subject to the M&A
Studco Global Holdings, Inc.
US holding company

100%

100%

Studco Building Systems US, LLC

Studco Corporation

US Operating Entity

US holding company
100%
Studco Australia Holdings Pty Ltd
Australian holding company
100%
Studco Australia Pty Ltd
Australian Operating Entity

■Head Office and Plant of Studco Building Systems US, LLC■Head Office and Plant of Studco Australia Pty Ltd■Contact information
Public Relations Office, General Affairs Department, JFE Shoji Corporation. TEL 03-5203-5055