03
Mar
00:00
NSSMC targets $1.25 billion in cost savings
Japan’s Nippon Steel and Sumitomo Metals Corporation (NSSMC) plans to spend around Yen 1,350 billion ($11.26 billion) over fiscal 2015-2017. This is in order to achieve additional cost savings of Yen 150 billion/year, according to a plan released on 3 March. Investment will include the closure of two older blast furnaces but the company still intends to target annual output of around 50 million tonnes, Kallanish notes.
Central to the company’s pl…
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