In Nippon Steel’s engagement with the USW International leadership, we have sought to create the best possible environment for good-faith negotiations by maintaining the confidentiality of the personal correspondence between both parties until now.
However, in light of the public mischaracterizations of our communications with the USW and the commitments we have offered, we have decided to share our written communication with USW leadership. We believe these materials show Nippon Steel’s sincere and persistent dedication to developing and maintaining a trust-based productive dialogue and addressing any concerns that the USW members and leadership have.
The goal of this transaction is to protect and grow U. S. Steel, and its union and non-union employees are critical to that goal. We hope that the disclosure of these materials will help U. S. Steel’s employees and other stakeholders understand the full set of facts about our engagements with USW, and that we can work together for the bright future of U. S. Steel for decades to come.
Strengthens companies’ ability to address growing demand for high-grade steel in the U.S. and globally
Combines world-leading technologies and manufacturing capabilities to be at the forefront of innovation and digital transformation in steelmaking
Honoring all collective bargaining agreements and recognizing the United Steelworkers as the bargaining representative for USW-represented employees
Positions NSC to deliver higher growth, enhanced profitability and long-term value
Provides certain and immediate value to U. S. Steel shareholders in all-cash transaction representing 40% premium
Maintains iconic U. S. Steel name, brand and HQ in Pittsburgh, PA
Drives the global steel industry towards decarbonization and a sustainable world
Clear path to completion in the second half of 2024