Japan's Nippon Steel Trading has announced an agreement to acquire all shares of steel service center CLN Slovakia from Italy's CLN Group through its subsidiary Nippon Steel Trading Austria GmbH, strengthening its steel distribution and processing operations in Europe.
Automotive processing capacity of 220,000 mt
Established in 2007, CLN Slovakia operates within Nippon Steel Slovakia's steelworks in Košice and has approximately 220,000 mt of steel processing capacity. The company processes coils into narrow strips and sheets, primarily serving automotive manufacturers and their suppliers.
Acquisition to strengthen regional supply chains
The transaction will support Nippon Steel Trading's expansion in the automotive, construction and industrial machinery, home appliance and solar energy sectors.
