Sanyo Special Steel Co., Ltd. Becomes a Subsidiary of Nippon Steel & Sumitomo Metal Corporation

Steel industry is witnessing consolidation and M&A from past few months, Japan steel industry is none the less behind. The recent consolidation by making Sanyo Special Steel the subsidiary of NSSMC (Nippon Steel & Sumitomo Metal Corporation) to strengthen the special steel businesses of both companies and also working toward a global business promotion is another feather of success to the NSSMC to become one of the largest steelmakers in Japan and of the world.

NSSMC and Sanyo Special Steel concluded that making Sanyo Special Steel into a consolidated subsidiary of NSSMC and making Ovako a wholly-owned subsidiary of Sanyo Special Steel will allow for close cooperation in technical, marketing and other areas between NSSMC, Sanyo Special Steel and Ovako in response to the globalization of customers in Japan and overseas in the automobile and other fields as well as needs for high-quality special steel products.

Notice Regarding Execution of The  Agreement