Nippon Steel, allies to increase steel output

Japanese steelmaker Nippon Steel Corporation disclosed on Thursday that it and its allies would increase their combined crude steel production to more than 40 million metric tons a year by the end of March 2009 in an effort to cope with global industry realignment. A Nippon Steel spokesman said the group's output will grow 18 percent over the next three years thanks to expansion of Nippon Steel's plants and alliances with Sumitomo Metal Industries Ltd. and Kobe Steel Ltd. Nippon Steel President Akio Mimura said that volume expansion was inevitable to cope with global realignment in the sector.