Nippon EGalv Steel Sdn Bhd, a black galvanized electrical insulating company based in Malaysia, will close operations in Penang on July 31st. Nippon EGalv is based in Seberang Prai and has approximately 160 employees. In his letter to the company’s business partners dated May 13, Nippon EGalv President Norihisa Hanada said: “If we have any active agreement and contract with your company, this letter serves as a notice of termination of the relevant contracts and agreements. Payments for all outstanding invoices will be processed. ”
Nippon Steel Corp has announced plans to liquidate its financially troubled Malaysian subsidiary, which makes steel sheets for electrical appliances. The company was reportedly planning to dissolve its operations in Malaysia by the end of this year, once it ceases production of EG steel sheets in June. It was also reported that following the termination of local production of EG in Malaysia, Nippon Steel will supply material made at its smelters in Chiba and Hyogo prefectures in Japan directly to its Malaysian customers, mainly TV and audio manufacturers.