Nippon Steel
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Nippon Steel/Sumitomo draft merger plan submitted
Nippon Steel & Sumitomo Metal Industries Ltd submit draft merger proposal Tokyo (Reuters) – Nippon Steel Corp, the world’s fourth-biggest steelmaker, and Sumitomo Metal Industries Ltd submitted a draft proposal for their planned merger to Japan’s
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Merged Nippon-Sumitomo may retain Tata Steel, drop Bushan as ally
MINING.com Editor | June 19, 2011Japanese steel firms Nippon Steel and Sumitomo Metals are likely to retain Tata Steel as partner for India, post their proposed merger. Nippon Steel has a tie-up with Tatas and Sumitomo Metals has a partnership with Bhushan Steel. Industry sources said that the new entity, formed out of Nippon-Sumitomo’s existing businesses, will keep only one firm as its India ally and the balance is tilted towards Nippon’s long-standing partner Tata Steel rather than Sumitomo Metals’ Bhushan Steel, which has a marketing and technology tie-up with the Japanese firm.
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