International Steel Mills
Nippon makes assurances in U.S. Steel buy; will move US HQ to Pittsburgh
Written by Laura Miller
March 19, 2024
As uncertainty swirls around Nippon Steel Corp.’s (NSC) proposed buy of U.S. Steel, the Japanese steelmaker continues to make assurances that it has the best interests in mind for running the iconic Pittsburgh-based steelmaker.
In a letter addressed to Pennsylvanians this past weekend, NSC maintains the acquisition will benefit U.S. Steel, its employees, the American steel industry, and local communities. The letter, signed by Takahiro Mori, representative director and executive vice president of Nippon Steel, was published in several Pennsylvania newspapers.
As the United Steelworkers (USW) union continues to question the interests of the Tokyo-based company, NSC’s letter says that it wants all employees, including the unionized workforce, to share in the American company’s success.
“The best of U.S. Steel is here to stay,” NSC stated in the letter, reiterating that the transaction will not result in job cuts, facility closures, or the outsourcing of production overseas. As previously stated, U.S. Steel will keep its recognizable name and brand.
Additionally, NSC said it plans to move its existing US headquarters from Houston to Pittsburgh, where U.S. Steel’s headquarters will also remain. NSC added that other bidders would not have been able to do this.
“We want to invest in all of U.S. Steel,” NSC promised.
“There is great value to be realized across the company’s iron ore, blast furnace, and electric-arc furnace facilities,” it noted, adding that, “Every corner of the company will benefit from our sizeable R&D budget and our world-leading technologies related to product, operational, and decarbonization.”
NSC also said it will support research institutions in Pennsylvania and is already in discussions with Pittsburgh’s Carnegie Mellon University to further develop green technology in steelmaking.
Laura Miller
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