01
Feb
14:26
NSSMC to takeover Nisshin, close furnace
Japan’s Nippon Steel and Sumitomo Metal Corporation (NSSMC) plans to take over stainless steel producer Nisshin Steel. The merger will also involve a restructuring to reduce costs, which will see the closure of one of Nisshin’s blast furnaces, Kallanish notes.
NSSMC plans to disclose in May how it will make the acquisition, and plans to complete the process by March 2017, within the next financial year. Nisshin will remain listed separately…
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