06
Feb
08:47
NSSMC completes tube acquisition
Japan’s Nippon Steel and Sumitomo Metal Corporation (NSSMC) reports it has completed the acquisition of additional shares in Katakura Steel Tube, making it a subsidiary of the group. The company will also change its name to Nippon Steel & Sumikin Katakura Tube effective 1 April, Kallanish notes.
NSSMC announced in December that it planned to increase its stake in Katakura, which was already an equity-affiliate, from 24.9% to a majority. After receiving…
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