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Nippon Steel Corporation + U. S. Steel

Moving Forward Together as the ‘Best Steelmaker with World-Leading Capabilities’

United States Steel’s Board of Directors “Corrects the Record” on Transaction with Nippon Steel

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Wide Spread Support

“For the United States to say that a Japanese company investing in an American manufacturing firm constitutes a threat to American national security is strange and troubling.”
Michael R. Strain
Economist, American Enterprise Institute
April 10, 2024
“Japan is a strategic ally and the largest foreign investor in the United States, directly employing nearly one million American workers. Facts I hope the Administration keeps in mind when preparing for next month’s state visit.”
Nancy McLernon
President & CEO, Global Business Alliance
March 13, 2024
“Attempts to politicize the objective Committee on Foreign Investment in the United States (CFIUS) review of NSC’s acquisition of U. S. Steel are both inappropriate and counterproductive…officials must be careful not to send a chilling signal to international companies that U.S. politics may put their job-creating investments in the U.S. at risk.”
John Murphy
U.S. Chamber Senior Vice President and Head of International
March 14, 2024
"This (the transaction) isn't about acquiring a prized U.S. asset. It's about investing in an American company, creating jobs in Pennsylvania, and training workers in cutting-edge technologies."
Kenneth Weinstein
Japan Chair, Hudson Institute
March 14, 2024
"Given everything that the Nippon Steel executives have said about what they plan to do, honoring labor agreements, I don't think there's a national security concern at all. I’ve also made the argument that Japan should be on the CFIUS whitelist.”
Mike Gallagher
U.S. Rep, R-WI 8th District
March 14, 2024
 “There is virtually nobody who would argue that Japan represents a national security risk. In fact, the technology transfer in this case is going from Japan to the U.S. where there would be significant potential upgrades of it.”
David Faber
Co-anchor, CNBC’s Squawk on the Street
March 14, 2024
“The rest of us, including the unions in the industries downstream like the United Autoworkers, should pay closer attention. They must actively support the proposed Nippon-U. S. Steel deal because it’s in their best interest.”
Peter Roff
Contributing Editor, US News & World Report
March 14, 2024
“Why the bipartisan hostility toward Nippon Steel deal? Friendshoring is better than offshoring.”
Steve Forbes
Chairman & Editor-In-Chief, Forbes Media
March 1, 2024

Combination is the Best Deal for American Steel

  • Nippon Steel has pledged that no jobs will be lost as a result of the transaction, it will maintain the iconic U. S. Steel name and branding, and it will keep the Pittsburgh headquarters which supports 1,000 roles across corporate, research, commercial, information technology, finance, human resources, legal and communications functions
  • Builds on NSC’s established presence in the United States and is a positive development for American steel, American jobs and America’s national security
  • NSC will contribute new capital and technological advances to U. S. Steel that will support job growth and create new opportunities for our workforce
  • NSC will bring additional resources and expertise to support investment in American steel, while also accelerating innovation, decarbonization and digitization at U. S. Steel
  • NSC has a proven record of acquiring, operating and investing in steel mill facilities in the U.S.

Secures Long-Term Future of Union Jobs

  • NSC is committed to partnering with the United Steelworkers (USW): Following the closing of the transaction, NSC will honor all USW agreements and recognizes the USW as the bargaining representative for USW represented employees
  • No changes will be made to existing collective bargaining agreement
  • Represented members will continue receiving their paychecks, profit sharing and benefits from U. S. Steel
  • Expands NSC’s existing strong relationship with the USW, as NSC already has approximately 620 USW-represented employees in the United States

Two Purpose-Built Organizations that are Highly Complementary

  • Unwavering focus on and commitment to safety
  • Best-in-class technologies and manufacturing capabilities
  • Values-based leadership teams

Eiji Hashimoto, President, NSC and Takahiro Mori, Executive Vice President, NSC wrote about their plans to grow U. S. Steel in The Wall Street Journal

read their Op-Ed here

Best For...

Customers

Strengthens companies’ ability to address growing demand for high-grade steel in the U.S. and globally

Innovation

Combines world-leading technologies and manufacturing capabilities to be at the forefront of innovation and digital transformation in steelmaking

U. S. Steel Employees

Honoring all collective bargaining agreements and recognizing the United Steelworkers as the bargaining representative for USW-represented employees

NSC Shareholders

Positions NSC to deliver higher growth, enhanced profitability and long-term value

U. S. Steel Shareholders

Provides certain and immediate value to U. S. Steel shareholders in all-cash transaction representing 40% premium

Tradition

Maintains iconic U. S. Steel name, brand and HQ in Pittsburgh, PA

Planet

Drives the global steel industry towards decarbonization and a sustainable world

Certainty

Clear path to completion in the second half of 2024

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