Arab Today, arab today nippon steel sumitomo metal merger approved
Last Updated : GMT 06:37:29
Arab Today, arab today
Arab Today, arab today

Nippon Steel, Sumitomo Metal merger approved

Arab Today, arab today

Arab Today, arab today Nippon Steel, Sumitomo Metal merger approved

Tokyo - AFP

Japan on Wednesday approved a merger between the nation\'s biggest steelmaker Nippon Steel and third-ranked rival Sumitomo Metal Industries that will create the world\'s second-largest steel firm. The tie-up, planned for official launch on October 1, 2012, will create a steel firm second only to world steel giant ArcelorMittal and generate savings in the face of increasingly intense global competition. The Japan Fair Trade Commission announced on Wednesday that the merger would not be problematic in terms of competition. Global competition in the steel industry has intensified in recent years with demand spurred by emerging economies such as China, which are undertaking massive construction, infrastructure and manufacturing projects. Japanese automakers, electronics makers and other companies have also sought to expand production in foreign markets in search of growth, stronger consumer demand and by way of hedging against foreign exchange risks. Through the merger, the steelmakers will aim to realign and strengthen a global network, namely in China, Brazil, India and Southeast Asian countries. The new company, Nippon Steel & Sumitomo Metal Corp., \"will aim to achieve 60 to 70 million tons in terms of global production capacity by further accelerating its overseas business development,\" the two firms said in September. The merger, under the ratio of 0.735 Nippon Steel shares to one Sumitomo Metal share, would be the first in the Japanese steel industry since the creation of the country\'s number two firm JFE Holdings around a decade ago.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nippon steel sumitomo metal merger approved Arab Today, arab today nippon steel sumitomo metal merger approved

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today nippon steel sumitomo metal merger approved Arab Today, arab today nippon steel sumitomo metal merger approved

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday