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Capital increase in Jinan Ludong Refractory Co., Ltd.

Tokyo Boeki Steel & Materials Ltd. (TBSM) has increased its shareholding in the joint venture company, Jinan Ludong Refractory Co., Ltd. (Ludong Refractory). Our equity share has increased to 28%, and this transaction has farther strengthened the cooperative relationship between Ludong Refractory and TBSM.

With this capital injection, Ludong Refractory introduced a most advanced “3,600 tons-hydraulic vacuum press”, the first press machine in China. This new press machine will enable Ludong Refractory to increase its production capacity to 6,200-7,200 tons per year, which is about twice as large as that of existing facilities. Moreover, the new machine makes it possible to improve the product quality because it firmly fixes molds by using high hydraulic pressure.

Ludong Refractory and TBSM will further contribute to our customers by providing better goods through our continued efforts for improve product’s quality and our service.