Nippon Steel Corp., Japan’s largest steelmaker, merged with Sumitomo Metal Industries, the nation’s third-largest steelmaker, to form Nippon Steel & Sumitomo Metal Corp. The merger creates the world’s second-largest steel company, behind only ArcelorMittal. The new business, which has a combined annual capacity of 46.1 million metric tons, plans to expand global operations in China, India and other emerging countries while consolidating its operations in Japan.
Nippon Steel, Sumitomo Metal Industries Merge
October 8, 2012