Nippon steel and Australia’s BlueScope Establish a Joint Venture

Nippon steel announced on 13th that the firm agreed with BlueScope Steel, an Australia’s major iron and steel company, to participate 50% to the business for steel sheet for the construction BSL deploys in the United States and South Eastern Asia, investing 554 million dollars as a group with Nippon Steel & Coated Sheet Corporation. The joint firm aims to supply original sheet stably to annual 1.4 million tons of galvanized sheet iron production business. Nippon steel group devotes advanced original technology and products and keep pace with demand including home electrical appliance in the growing market. This investment is different from existing case which aimed at stable supply of original sheet. The firm participates the management in oversea’s steel sheet business for the construction for the first time, and takes shape the strategy as Global Player.