Page 2 - Nippon Steel

Aiming to expand in US, India, Nippon to dissolve JV with China's Baoshan

Nippon Steel has been looking to end cooperation with Baoshan, a subsidiary of state-owned China Baowu Steel Group, the world's largest steelmaker for about two years

With geo-political concerns, engg firms nudge suppliers to 'Make in India'

These firms are either tying up with Indian entities of their foreign suppliers, or urging foreign suppliers to set shop in India

Nippon-US Steel deal may hike decarbonisation costs, say shareholders

Nippon Steel, the world's fourth biggest steelmaker, last year announced a $15 billion takeover offer for US Steel

Japanese steelmaker JFE eyes overseas investments amid slower profit growth

In February, JFE announced an average increase in steel product sale prices of 10% from April to reflect rising raw material costs and global inflation

Arcelormittal Nippon Steel India in talks for $1 bn loan to fund growth

The steel firm had earlier held loan negotiations with a few other lenders but they couldn't agree on the cost of funding, said the people

AM/NS India will have 'robust financial discipline' while expanding: CFO

Acquisition is growth driver for AM/NS and its parent companies, ArcelorMittal and Nippon Steel, says Amit Harlalka

US senator urges Prez Biden to review alleged Nippon Steel ties to China

Nippon Steel said in a statement that Horizon's report was "rife with inaccuracies and misrepresentations"

Nippon Steel defends US deal after Joe Biden comes out against bid

Japan's largest steel company repeated its previous offer of an additional $1.4 billion in investment, and promised no layoffs or plant closures until at least September 2026

US Steel should remain American owned and operated, says President Biden

US Steel shares retreated in early trading, after plunging 13% on Wednesday when news first broke that Biden would express concern about the deal

ArcelorMittal's XCarb India Accelerator programme selects three finalists

The programme, launched in July 2023, was aimed at identifying start-ups focused on the most "promising" decarbonisation technologies in India

ArcelorMittal Nippon Steel joint venture targets 20% emission cut by 2030

The report also sets out a series of strategic investments, pilots, and partnerships to accelerate the uptake of breakthrough technologies necessary to produce net zero steel in India

ArcelorMittal partners with IIT Madras to create Hyperloop facility in TN

Steel giant ArcelorMittal has partnered with the Indian Institute of Technology, Madras to build "Asia's first" Hyperloop test track facility here, the company said here on Wednesday. The companies, ArcelorMittal and ArcelorMittal Nippon Steel India (AM/NS), are providing foundational steel materials as well as engineering, design, and project management expertise to support the construction of Asia's first Hyperloop test track at the 163-acre Discovery campus of IIT Madras, located at Thaiyur on the outskirts of Chennai, a company release here said. ArcelorMittal is collaborating with the IIT Madras's Hyperloop Technology teams -- Avishkar Hyperloop, a student team, and TuTr Hyperloop, a startup incubated in IIT Madras, for the project. The Ministry of Railways is also a key partner. ArcelorMittal and AM/NS will supply 400 tonnes of steel for the fabrication of a 400-metre vacuum tube at the site, while engineers from AMDEC, the design and engineering arm of ArcelorMittal, will hel

Storied US Steel to be acquired for more than $14 billion by Nippon Steel

US Steel, the Pittsburgh steel producer that played a key role in the nation's industrialisation, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The transaction is worth about $14.9 billion when including the assumption of debt. The combined company will be among the top three steel-producing companies in the world, according to 2022 figures from the World Steel Association. The price tag for US Steel is nearly double what was offered just four months ago by rival Cleveland Cliffs. US Steel, which rejected that offer, confirmed the offering price from Nippon early Monday. US Steel will keep its name and its headquarters in Pittsburgh, where it was founded in 1901 by JP Morgan, Andrew Carnegie. It will become a subsidiary of Nippon. Nippon said Monday that it will also honour all collective bargaining agreements in place with the United Steelworkers and other employees, and is committed to maintaining its relationship with workers. Nippo

Steelmaker AM/NS India's Ebitda up 161% on higher shipments, lower costs

Shipments were 11.6% higher at 1.9 million tonnes compared to 1.7 mt in the previous quarter

Strong domestic demand, raw material cost, pushing up steel prices

Flat steel prices began their ascent from August after experiencing a slump between May and July. Nevertheless, trade prices remain shy of their April marks

AM/NS India likely to break ground for Paradeep steel plant in Dec-Jan

The joint venture between global steelmakers, ArcelorMittal and Nippon Steel, is looking at setting up two greenfield plants in Odisha - a 12 mt plant at Kendrapara district and 7 mt at Paradeep

ArcelorMittal looks to rope in Indian climate tech start-ups to go green

Launches first country-specific accelerator programme to achieve decarbonisation goal

ABB India to provide electrification, automation systems to AMNS India

ABB India on Friday said it will provide electrification and automation systems for ArcelorMittal Nippon Steel India's (AM/NS India) advanced steel cold rolling mill (CRM) in Hazira, Gujarat. The contract comes through John Cockerill India Limited (JCIL), the original equipment manufacturer (OEM) for the project, ABB India said in a regulatory filing. "ABB India is providing advanced electrification and automation systems, including the ABB Ability System 800xA distributed control system (DCS) and associated equipment and components, to support enhanced energy efficiency, optimised zinc consumption and high levels of corrosion resistance throughout the steel production process," it said. This will support AM/NS India in its bid to reach greater levels of sustainability at Hazira. The new CRM with advanced processing lines is due to be commissioned in 2024, the company said. "The new processing lines are designed to produce new-age value-added steel, embedding the most demanding ...

Indian steelmakers look for government support to go the green way

Transition calls for large investment but demand for and premium on eco-friendly steel remains dull

NCLT approves AM Mining resolution plan for Indian Steel Corporation

The NCLT passed the order on April 13. The total amount under the resolution plan is Rs 897 crores, out of which the secured financial creditors would receive Rs 810 crores