Japan’s largest steel producer, Nippon Steel, and Sumitomo Metal Industries are to merge next year, in a move that The Gas Review (TGR) claims is ‘certain to impact the industrial gas industry’.
The two companies made the announcement on 3rd February and will commence consideration of the integration of their businesses to take place from 1st October 2012.
If accomplished, the deal would represent the latest major merger to take place following the merger of NKK and Kawasaki Steel in 2002, creating JFE Holdings.
Competitive
This new move by Nippon Steel and Sumitomo Metal Industries is born out of the two companies’ aim to improve their competitive edge in the global market, where the demand for steel is expanding and especially so among the so-called emerging nations.
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