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

15 Jan 2026

German Chancellor Visits Bosch India Campus in Bengaluru

Strengthening the long-standing partnership between India and Germany, Friedrich Merz, Federal Chancellor of the Federal Republic of Germany, recently visited the Bosch campus at Adugodi, Bengaluru, during his India trip. The delegation was hosted by Guruprasad Mudlapur, President of the Bosch Group in India and Managing Director, Bosch Limited, who showcased key innovations developed in the region.During the visit, the delegation experienced Bosch’s H2ICE demonstrator truck featuring a fully integrated powertrain and telematics system. Bosch India, in collaboration with Bosch Germany, is ad..

ICC, Maharashtra Sign MoU to Boost Industry Engagement

The Indian Chamber of Commerce (ICC) and the Government of Maharashtra recently signed a Memorandum of Understanding (MoU) to enhance cooperation and deepen engagement between Indian businesses and the State, with a focus on investment facilitation, ease of doing business and sustained industry–government dialogue.The MoU was signed by Dr P Anbalagan, IAS, Principal Secretary (Industry, Investment and Services), Government of Maharashtra, and Dr Rajeev Singh, Director General, ICC, in the presence of leading business representatives.Speaking on the occasion, Dr Anbalagan said the partnership..

Regal Rexnord Opens Unified Singapore Regional Office

Regal Rexnord recently opened a new office in Singapore, consolidating employees and capabilities from its former sites into a single, modern, region-focused location. The move brings together two existing offices and strengthens collaboration across its portfolio of brands, including CENTA, Jaure, Kollmorgen, Nicotra and Falk.By housing teams under one roof, Regal Rexnord aims to deliver a more seamless experience for customers seeking mechanical power transmission, motion control and automation solutions across Southeast Asia. The consolidated setup is designed to enhance coordination across..