Nippon Steel, Sumitomo Metal Indus: To Mull Merging Operations
03 Febbraio 2011 - 9:12AM
Dow Jones News
Nippon Steel Corp. (5401.TO) and Sumitomo Metal Indutries Ltd.
(5405.TO) said Thursday they will consider merging their operations
around Oct. 1, 2012, in what would mark the first major
consolidation in the nation's steel sector in a decade.
Nippon Steel and Sumitomo Metal, Japan's biggest and third
biggest steel maker by output, said in a joint statement that they
aim to merge their operations under the umbrella of a new holding
company. They said details such as a merger ratio have not been
decided.
-By Kazuhiro Shimamura and Hiroyuki Kachi, Dow Jones Newswires;
813-6269-2789; Hiroyuki.Kachi@dowjones.com
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