trending Market Intelligence /marketintelligence/en/news-insights/trending/_Cxvs1VWCGvOXPf5wJ4oqQ2 content esgSubNav
In This List

Nippon Steel's 2 units to merge

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Podcast

Energy Evolution | Looking ahead to the energy transition in 2023

Video

Path to Net-Zero: How are mining companies tracking?

Blog

The Big Picture for 2023: Will Economies See Relief from Knock-on Effects of Russia-Ukraine Conflict?


Nippon Steel's 2 units to merge

Nippon Steel &Sumitomo Metal Corp. said April 8 that its Nippon Steel & SumikinFine Technology Co. Ltd. and Nippon Tubular Products Co. Ltd. units have agreedto merge as of July 1 to form Nippon Steel & Sumikin Precision Machining Co.Ltd.

The decision to combine the companies' respective precision machiningtechnologies was driven by a tough market situation due to weak oil prices worldwide,according to the statement.

Through the merger, the units would be able to build an optimumsystem for the production of oil well tubular couplings.

In addition, the companies seek to be capable of meeting theneeds of their clients in other fields of machining.