Nippon Steel to acquire a further 5.6 percent of Unipres shares

Monday, 18 May 2015 11:21:46 (GMT+3)   |   Istanbul
       

Japanese steelmaker Nippon Steel & Sumitomo Metal Corporation (NSSMC) has announced that it will acquire 5.6 percent of shares in Unipres, a leading Japanese manufacturer of automotive press-formed products and transmission components. NSSMC currently possesses 10.9 percent of issued shares in Unipres.

According to NSSMC's statement, in recent years the global automotive industry has grown rapidly and the need to reduce the weight of automobile bodies has also increased in order to meet stringent environmental regulations. To realize further weight reduction of automobile bodies, it is necessary to maximize the potential of steel materials, NSSMC said.


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