Japanese steelmaker Nippon Steel & Sumitomo Metal Corp. (NSSMC) has announced that it has completed the acquisition of 51 percent of the common shares of Japan-based Sanyo Special Steel Co., Ltd.
According to NSSMC, its new subsidiary Sanyo Special Steel also acquired all shares of Ovako AB, a manufacturer of special steel with headquarters in Sweden from NSSMC and has made Ovako a wholly-owned subsidiary.