Sumitomo Corporation joins globalCOAL
LONDON AND SINGAPORE – 8 April 2010
globalCOAL® announced today that Tokyo-based Sumitomo Corporation has joined the globalCOAL trading platform as a Market Member.
Sumitomo Corporation is one of Japan's leading trading houses with over 5,000 employees across its 26 domestic and 120 international offices. The company is involved in the provision, import and export of a wide breadth of products and services from sectors as far ranging as metals, transportation, construction equipment, infrastructure, chemicals, electronics, and resources and energy, as well as finance and logistics. Sumitomo Corporation is listed on the Tokyo, Osaka, Nagoya and Fukuoka Stock Exchanges.
"Sumitomo Corporation is one of the largest sogo shosha in Japan and a significant addition to the globalCOAL Market Membership," said Patrick Markey of globalCOAL in Singapore. "The steady growth of globalCOAL's Japanese Market Membership is an encouraging indication of the development of standardised coal trading in Asia in general, and the potential for globalCOAL's CIF Japan initiative in particular."
Sumitomo Corporation is globalCOAL's thirteenth Japan-based Market Member.
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