OREANDA-NEWS. Nippon Steel & Sumitomo Metal Corporation ("NSSMC") and ArcelorMittal SA  agreed at the end of November 2013 with ThyssenKrupp AG ("TKAG") to purchase ThyssenKrupp Steel USA, LLC ("TKUS") owned by TKAG.  In addition, NSSMC and ArcelorMittal agreed to operate TKUS as a 50/50 joint venture.

Having received all necessary regulatory approvals, NSSMC hereby announces that it has completed the acquisition of TKUS together with ArcelorMittal on February 26.  

The new joint venture, together with I/N Tek (cold-rolled steel products) and I/N Kote (coated products) both of which are in the State of Indiana and which have demonstrated good track records with various customers for more than twenty years, will further enhance NSSMC's capability to supply products to automotive customers in the U.S.A.

The Calvert site will serve the expanding automotive steel market in North America especially in southern areas of the U.S.A.  The new joint venture will have capability to meet the growing needs, especially from Japanese car manufacturers, for ultra high tensile strength products with good formability, and hot-rolled steel products including high tensile strength grades, in addition to the current supply of cold-rolled steel and coated products produced at I/N Tek and I/N Kote.  Also we will be able to realize further enhanced quality for cold-rolled steel and coated products through integrated production control starting from Hot Rolling process.

NSSMC has been adding production bases of automotive sheet to expand its global supply network for automotive customers in many areas in the world.  With this new joint venture, we will be able to further strengthen the reliable capacity of production and supply of high-end automotive products in the U.S.A. to meet various customers' needs.