International Steel Mills

Nippon makes assurances in U.S. Steel buy; will move US HQ to Pittsburgh

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

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.