Nippon Steel Aims for 100 Million Tonnes through Overseas Plans
Nippon Steel in new medium to long term management plan has announced that in order to further improve profitability in this environment, Nippon Steel
Nippon Steel in new medium to long term management plan has announced that in order to further improve profitability in this environment, Nippon Steel will move away from traditional business of exporting steel products, mainly high-grade steel, and supplying by overseas companies in charge of producing predominantly cold-rolled and plating products, and will move toward a full-scale overseas business that enables local demand to be captured in its entirety and provides added value to our products. The Group aims to achieve 100 million tonnes of global crude steel capacity per annum by capturing demand in growth markets through the sale of products from strong domestic mother mills and local mills overseas, and Nippon Steel will promote measures to expand the capacity of AM/NS India and consider acquisition of, and equity participation in brownfield investment in integrated steel mills in China, ASEAN countries and others.
With regard to existing overseas businesses, Nippon Steel has concentrated operations, and narrowed our focus to certain businesses, as Nippon Steel has almost completed the reorganization of our overseas tinplate business and our withdrawal from VSB4 and other businesses which would not be economically viable for us to continue. Going forward, we will aim to increase profits by strengthening the business bases of AM/NS India and OVAKO, which are large-scale acquisitions, and in the case of each overseas business company, by taking advantage of our advanced technology and capturing the growth of the markets as a company in each country.