Japan's Nippon Steel says it held talks with the United Steelworkers union last month to seek their understanding of its plan to acquire US Steel.
The union has opposed the buyout on concern it may lead to plant closures.
The Japanese company says in the latest union talks it committed to invest in existing steel facilities. It also says there will be no layoffs, plant idling, or closures.
Nippon Steel says in a letter sent Monday to US Steel employees that its offer has received increasing support from local elected officials, community leaders, and union members.
The two steelmakers agreed on the takeover a year ago.
It is now being screened by the US Committee on Foreign Investment for any national security issues.
The committee is expected to give its decision later this month. The Japanese steelmaker says it aims to complete the acquisition by the end of the year.
The union has opposed the buyout on concern it may lead to plant closures.
The Japanese company says in the latest union talks it committed to invest in existing steel facilities. It also says there will be no layoffs, plant idling, or closures.
Nippon Steel says in a letter sent Monday to US Steel employees that its offer has received increasing support from local elected officials, community leaders, and union members.
The two steelmakers agreed on the takeover a year ago.
It is now being screened by the US Committee on Foreign Investment for any national security issues.
The committee is expected to give its decision later this month. The Japanese steelmaker says it aims to complete the acquisition by the end of the year.
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Summary
Nippon Steel and the United Steelworkers union held discussions about Nippon Steel's proposed acquisition of US Steel, with the union expressing concerns over potential plant closures. However, Nippon Steel has assured no layoffs, idling, or closures, and has committed to investing in existing
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ID: 513887e6-0aeb-4fb9-880d-027339cf5b08
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20241210_B06/
Created: 2024/12/11 07:00
Updated: 2025/12/08 07:59
Last Read: 2024/12/11 07:41