Nippon Steel ‘not yet satisfied’ with US Steel reforms

Nippon Steel has seen positive results from efforts to improve operations at US Steel, one year after its acquisition, but is not yet satisfied with the pace of reforms, the Nikkei newspaper reported on Thursday, citing the steelmaker’s vice chairman and executive vice president.

“We’re seeing improvements, but we’re not yet satisfied,” Nippon Steel’s Takahiro Mori told Nikkei in an interview.

Mori said Nippon Steel had identified 260 areas for improvement at US Steel and was introducing its manufacturing know-how to improve production efficiency.

Neither US Steel nor Nippon Steel immediately responded to Reuters requests for comment.

Mori told Nikkei that the company continues to pursue plans to build new steelmaking facilities in the United States and is evaluating locations, while also assessing investments in Pennsylvania’s Mon Valley Works that could increase because of inflation, equipment requirements and environmental reviews.

Nippon Steel completed its acquisition of US Steel last year following regulatory scrutiny and commitments tied to national security.

(By Roshan Thomas; Editing by Anil D’Silva)