Nippon Steel's Vice Chairman Returns to U.S. for Key Acquisition Talks

03 Jun 2024 CW Team

Vice Chairman Takahiro Mori of Nippon Steel plans to return to the United States this week for further negotiations over the proposed $14.9 billion acquisition of U.S. Steel. This follows his previous visit from May 20-26, highlighting the company's urgency to finalize the deal amidst increasing regulatory and political challenges.

Mori's agenda includes meetings in Washington D.C. and discussions with business and political leaders. The trip underscores the Japanese steelmaker's commitment to securing the merger, despite opposition from President Joe Biden and the United Steelworkers (USW) union, both concerned about job losses and the importance of U.S. Steel remaining under domestic ownership.

To address these concerns, Nippon Steel is considering asset sales if required by U.S. regulators. A manufacturing plant in Calvert, Alabama, jointly owned with ArcelorMittal, has been a particular focus of antitrust scrutiny.

Despite these hurdles, Mori remains optimistic about the deal, citing the successful acquisition of Standard Steel in 2011 as a model. He emphasized Nippon Steel's commitment to job security and plans to invest an additional $1.4 billion to upgrade U.S. Steel factories. However, the USW has rejected meeting requests and labeled Nippon Steel's proposals as "hollow promises."

Mori believes that public support for the deal might influence the union to engage in discussions. He anticipates smoother progress post-U.S. presidential election, projecting significant profit boosts for Nippon Steel if the deal concludes by December.

The merger, if successful, would grant Nippon Steel greater access to the lucrative U.S. market and support its long-term financial objectives, targeting a 1 trillion yen profit by the 2025 financial year.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..