Japanese Nippon Steel & Sumitomo Metal Corporation (NSSMC) recently announced that it has decided to restructure and integrate all the stainless steel pipe business of its five steel companies in response to a harsh business environment. The plan will begin in April 2019 after NSSMC completely acquired Nisshin Steel as a subsidiary. NSSMC currently owns 51% of Nisshin Steel’s shares.
NSSMC will take charge of the automotive stainless steel electric resistance welded pipe businesses of its three subsidiaries, including Nippon Steel & Sumikin Pipe (NSPC), Nippon Steel & Sumikin Stainless Steel Pipe (NSSP) and Nisshin Steel.
