Investment in Cold Rolling Mill in Nigeria

Nippon Steel Corporation
Marubeni-Itochu Steel Inc.


Nippon Steel Corporation (President: Shoji Muneoka; hereinafter referred to as “NSC”) and Marubeni-Itochu Steel Inc. (President: Kenichiro Ushino; hereinafter referred to as “MISI”) are pleased to announce that they have reached an agreement with Midland Rolling Mills Limited (Managing Director: M.P. Singh; hereinafter referred to as ”MRM”) in regard to equity investment in MRM. According to the agreement, each of NSC and MISI is to respectively invest US$ 3 million in MRM which manufactures and sells cold-rolled steel in Nigeria under management of SAFAL Group, who has long-term relationship with both NSC and MISI.