NSSMC completes acquisition of 51 percent shares of Nisshin Steel

The world's second biggest steelmaker Japan-based Nippon Steel & Sumitomo Metal Corp. (NSSMC) has announced that it has completed the procedures to acquire 51 percent of the shares of Japanese steel producer Nisshin Steel Co., Ltd. (Nisshin Steel). 

 

NSSMC stated that it will bring together its strengths and Nisshin Steel’s competitive advantages to provide better products, technologies, and services on a global basis.

 

On February 1, 2016, NSSMC announced that it had commenced discussions regarding making Nisshin Steel a subsidiary of NSSMC and on January 27 this year the company received the approval of the Japan Fair Trade Commission for the acquisition of shares of Nisshin Steel.