Nippon Steel & Sumitomo Metal Purchases the Plant Equipment for Oil Well Casings in the United States

Nippon Steel & Sumitomo Metal announced on October 4th, Southern Tube in the United States which is a totally-held subsidiary of Nippon Steel & Sumitomo Metal, will purchase plant equipment for heat treating and joint processing of oil well casings, that Wsp Houston Octg owns, in 2012 investing around 3.4 billion yen. Nippon Steel & Sumitomo Metal aims to accelerate global strategy. After acquisition, the fiｒm go ahead with capital investment further, and start commercial production in full swing in fiscal 2015. It is a acquisition for the first time as Nippon Steel & Sumitomo Metal.