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Nippon Steel

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A Quiet Year: Nippon Steel's U.S. Steel Bet Leaves Mon Valley Waiting
business1 month ago

A Quiet Year: Nippon Steel's U.S. Steel Bet Leaves Mon Valley Waiting

One year after Nippon Steel acquired the remaining shares of U.S. Steel, the Mon Valley shows little economic turnaround: announced investments are modest (slag recycling at Braddock, a new hot strip mill) and the longtime decline continues in Braddock, Clairton, West Mifflin. The deal shifted local labor dynamics and attitudes toward globalization, but there is no clear revival path beyond Nippon’s contained plans, underscoring the need for broader regional redevelopment.

via Pittsburgh's Public Source|
#braddock#business#clairton
White House and Trump intervene to prevent U.S. Steel plant shutdown in Illinois
business9 months ago

White House and Trump intervene to prevent U.S. Steel plant shutdown in Illinois

The White House intervened to prevent US Steel from shutting down its Granite City Works plant in Illinois, citing a national security agreement with Nippon Steel that allows the government to influence key decisions. US Steel had initially planned to cease processing steel at the plant but reversed course after the intervention, though the details of their solution remain undisclosed. The move underscores ongoing government involvement in domestic steel industry decisions under the security agreement.

via AP News|
#business#illinois-plant#national-security
Trump's 'Golden Share' Moves U.S. Steel Toward Foreign Control
business1 year ago

Trump's 'Golden Share' Moves U.S. Steel Toward Foreign Control

President Trump used a rare 'golden share' mechanism to give the U.S. government oversight over the Japanese-owned U.S. Steel, aiming to protect national security interests amid foreign investment concerns. This practice, common in Europe and Asia, allows the government to influence key decisions without full control, and could serve as a model for U.S. industrial policy. Nippon Steel's acquisition includes a perpetual 'golden share' granting Washington powers to block certain business decisions, reflecting a broader trend of increased government oversight in strategic sectors.

via Fortune|
#business#foreign-investment#golden-share
Nippon Steel Completes $15B Acquisition of US Steel
business1 year ago

Nippon Steel Completes $15B Acquisition of US Steel

Nippon Steel completed its $14.9 billion acquisition of US Steel, with the deal notably including a national security agreement that grants the US government, under President Trump, significant control including a golden share and veto rights over key decisions, amid political and union opposition. The deal aims to expand Nippon Steel's US presence and capacity, amidst a complex political backdrop involving national security concerns and presidential influence.

via New York Post|
#acquisition#business#national-security
Nippon Steel Completes Acquisition of U.S. Steel
business1 year ago

Nippon Steel Completes Acquisition of U.S. Steel

Japanese firm Nippon Steel completed its $14.9 billion acquisition of US Steel after securing US government approval by making concessions, including investments and maintaining US operations, amid concerns over foreign control and national security. The deal aims to create a major steel producer in the US, protect jobs, and keep US Steel's headquarters in Pittsburgh.

via BBC|
#business#merger#national-security