Mar. 15, 2024
Nippon Steel Corporation
Our transaction delivers clear benefits to U. S. Steel, union workers, the broader
American steel industry, and American national security. Through increased financial investment and the
contribution of our advanced technologies to U. S. Steel, Nippon Steel will advance American priorities by
driving greater quality and competitiveness for customers in the critical industries that rely on American
steel while strengthening American supply chains and economic defenses against China. No other U.S. steel
company on its own can meet this challenge while also meeting antitrust requirements. Our aim is to
bolster and grow U. S. Steel in the U.S. market in a way that prioritizes its talented employees, and we
have provided significant commitments to the USW in our continued efforts to reach a mutually agreeable
resolution. These include job security, pension security, capital investment, technology sharing,
financial reporting, and the ability to enforce contractual obligations post-closing.
Nippon Steel is the right partner to ensure that U. S. Steel is successful for generations to come as an
iconic American company. We are progressing through the regulatory review, including CFIUS, while trusting
the rule-of-law, objectivity, and due process we expect from the U.S. Government. We are determined to see
this through and complete the transaction.
Additional Information on Background
･Nippon Steel has been a friend of the U.S. for over 70 years by importing metallurgical coal from U. S.
states such as PA, WV, VA, and AL, and we look forward to extending this friendship long into the future
through this transaction.
･Wheeling Nippon Steel, a 100% subsidiary of Nippon Steel, is one of the major customers for U. S.
Steel’s Mon Valley works in PA.
･We have been successfully operating facilities with approximately 4,000 American employees, including 620
employees represented by USW (such as Standard Steel in Burnham, PA, and Wheeling Nippon Steel in
Follansbee, WV.
･Wheeling Nippon Steel has a successful track record going back over 40 years, after Wheeling Pittsburgh
went into bankruptcy and became 100% subsidiary of Nippon Steel with USW represented employees.
･As part of our proposal to the USW, at the close of the transaction we will commit that U. S. Steel would
additionally invest $1.4B, increase the current CBA by over 140%, and there will be no layoffs or plant
closures as a result of the transaction.
For inquiries
Public Relations Center Tel.: +81-3-6867-2977, 2135
