JFE Shoji America Holdings Inc., a subsidiary of JFE Shoji Corporation, finalized a stock purchase agreement with Studco Global Holdings, Inc., a prominent manufacturer of steel framing and door products in the U.S. and Australia. The agreement entails acquiring 100% ownership of Studco's U.S. and Australian operating entities, subject to regulatory approvals.

Studco's U.S. operations, headquartered in Webster, New York, serve the eastern U.S., while its Australian arm, based in Melbourne, Victoria, holds a significant market share. This acquisition aligns with JFE Shoji's strategy to expand its overseas construction materials business following its acquisition of CEMCO, headquartered in Los Angeles, California, specializing in the manufacture of steel framing materials, in 2022. With stable steel consumption in Australia and anticipated growth, this move positions JFE Shoji to meet increasing demand and bolster its presence in key markets.