financetom
Business
financetom
/
Business
/
Nippon Steel not to import from overseas mills in bid to save U.S. Steel deal
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Nippon Steel not to import from overseas mills in bid to save U.S. Steel deal
Nov 19, 2024 9:14 PM

Nov 18 (Reuters) - Nippon Steel ( NISTF ) will not import

steel to the U.S. from its international mills, the Japanese

company's Executive Vice President Takahiro Mori said on Monday

in a letter to United Steelworkers union members.

Nippon is looking to close its $14.9 billion deal for U.S.

Steel by the end of the year before President-elect Donald

Trump, who has pledged to block the deal during his campaign,

enters the White House in January.

In its effort to ease the challenges posed by the union and

President Joe Biden, the company has pledged investments to US

Steel and assured job security to the United Steelworkers union.

It has also promised to sell a stake in a U.S. steel plant

joint venture if the company succeeds in the buyout.

In his letter, Mori reiterated the promises made over the

past year and addressed concerns raised by union leaders,

including USW President David McCall.

"We are here to inform you, not to negotiate as President

McCall has suggested. I have asked President McCall to meet,

most recently on November 11. I await his response," Mori said.

In September, an arbitration board jointly selected by the

company and the USW, ruled in favor of the deal, but the union

disagreed with the decision.

Mori, who is scheduled for a U.S. visit next week, will meet

steelworkers in Pittsburgh and also visit New York and

Washington.

The Japanese steel company is making efforts to finalize the

deal, as the Committee on Foreign Investment in the United

States has extended its review until the end of December.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Geo Group Q3 revenue beats expectations, share buyback increased
Geo Group Q3 revenue beats expectations, share buyback increased
Nov 6, 2025
Overview * Geo Group Q3 2025 revenue beats analyst expectations, reaching $682.3 mln * Adjusted net income for Q3 2025 beats analyst estimates * Company increases share repurchase authorization to $500 mln Outlook * GEO expects Q4 2025 revenue between $651 mln and $676 mln * GEO sees full-year 2025 revenue at approximately $2.6 bln * Company expects full-year 2025...
Air Products and Chemicals Fiscal Q4 Adjusted Earnings, Sales Fall; Issues Fiscal Q1 and 2026 Guidance
Air Products and Chemicals Fiscal Q4 Adjusted Earnings, Sales Fall; Issues Fiscal Q1 and 2026 Guidance
Nov 6, 2025
06:21 AM EST, 11/06/2025 (MT Newswires) -- Air Products and Chemicals ( APD ) reported fiscal Q4 adjusted earnings Thursday of $3.39 per diluted share, down from $3.56 a year earlier. Analysts polled by FactSet expected $3.38. Sales for the quarter ended Sept. 30 were $3.17 billion, compared with $3.19 billion a year earlier. Analysts surveyed by FactSet expected $3.18...
Yunqi Capital Applauds STAAR Surgical’s Strong Third Quarter Results and Reiterates That the Proposed Sale to Alcon Should Be Terminated
Yunqi Capital Applauds STAAR Surgical’s Strong Third Quarter Results and Reiterates That the Proposed Sale to Alcon Should Be Terminated
Nov 6, 2025
Performance Reflects Strong ICL Demand and Validates Shareholder Opposition to the Proposed Merger Deferring to Alcon ( ALC ) to Solicit Proxies for the Proposed Merger Will Not Relieve STAAR’s Board of Its Credibility Deficit with Shareholders HONG KONG--(BUSINESS WIRE)-- Yunqi Capital Limited (together with its affiliates and the funds it advises, “Yunqi Capital”), an investment management firm and...
Primo Brands Q3 sales up 35.3%; names Eric Foss as CEO
Primo Brands Q3 sales up 35.3%; names Eric Foss as CEO
Nov 6, 2025
Overview * Primo Brands ( PRMB ) Q3 net sales grow 35.3% yr/yr, driven by merger and increased volumes * Adjusted EPS for Q3 beats analyst expectations, reflecting strong operational performance * Company announces leadership transition, appointing Eric Foss as Chairman and CEO Outlook * Primo Brands ( PRMB ) revises full-year 2025 Net Sales and Adjusted EBITDA guidance *...
Copyright 2023-2026 - www.financetom.com All Rights Reserved