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Hoping to buy Pa. company, Japan’s Nippon Steel looks globally for growth

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Under the proposed deal, U.S. Steel would keep its name and its headquarters in Pittsburgh, becoming a subsidiary of Nippon Steel.

'Welcome to Nippon Steel' sign in front of Blast Furnace No. 1 at Nippon Steel's Kashima Plant in Kashima, Japan, on Friday, Dec. 6, 2024.

Nippon Steel Corp. has its eyes on India, Southeast Asia and the U.S., Suzuki said. About 70% of the plant’s output is exported. Nippon Steel already has manufacturing operations in the U.S. and Mexico, China and Southeast Asia. It supplies the world’s top automakers, including Toyota Motor Corp., and makes steel for railways, pipes, appliances and skyscrapers.

But United Steelworkers union, which has 1.2 million members, have objected, citing worries about job losses and contract terms. A hot rolling mill at Nippon Steel's Kashima Plant in Kashima, Japan, on Friday, Dec. 6, 2024. Nippon Steel is promising to “preserve the legacy” of U.S. Steel and protect jobs, pensions and benefits, pledging that there will be no layoffs or plant closures.

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Trump to Block Nippon Steel's $14 Billion U.S. Steel AcquisitionPresident-elect Trump announced his intention to use tax incentives to prevent Nippon Steel's acquisition of U.S. Steel, a deal valued at $14 billion, citing concerns over foreign ownership. He plans to act swiftly as president to block the transaction, which faces opposition from President Biden and a powerful U.S. labor union.
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