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Sanyo Special Steel Co becomes a subsidiary of Nippon Steel

Steel News - Published on Mon, 01 Apr 2019

Image Source: SteelGuru
Nippon Steel & Sumitomo Metal Corporation recently completed the procedures to acquire 51% of the common shares of Sanyo Special Steel Co Ltd and made the company a subsidiary of NSSMC on March 28th 2019. On the same day, Sanyo Special Steel acquired all shares of Ovako AB, a manufacturer of special steel the headquarters of which is located in Sweden, from NSSMC and made Ovako a wholly-owned subsidiary.

From this point forward, Nippon Steel, Sanyo Special Steel and Ovako will strengthen the medium-to long-term competitiveness of our special steel businesses through bringing together our management resources of the group including our subsidiaries and promoting integrated business activities based on common business policies, strengthening our business foundations and technical capabilities and promoting the establishment of a structure for global business development, and responding to the globalization of domestic and overseas customers in the automobile and other fields as well as customer needs for high-quality special steel products.

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Posted By : Rabi Wangkhem on Mon, 01 Apr 2019
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