SOURCE: Industrial Info Resources

Industrial Info Resources

December 20, 2011 05:20 ET

Approval Granted to Nippon Steel, Sumitomo Metal Merger, an Industrial Info News Alert

KOFU-SHI, JAPAN--(Marketwire - Dec 20, 2011) - Researched by Industrial Info Resources East Asia (Kofu-shi, Japan) -- In February, Nippon Steel Corporation (TYO:5401) (Tokyo) and Sumitomo Metal Industries Limited (TYO:5405) (Osaka) announced their joint decision to merge and become the second largest steel company in the world. The Japanese steel industry had been suffering from the lingering effects of the 2008 world economic crisis, and its situation was amplified following the Great East Japan Earthquake.

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