Nippon Steel Finalizes Landmark Acquisition of U.S. Steel

According to official statements from Nippon Steel Corporation and U.S. Steel, the two companies have finalized their highly anticipated partnership, marking a significant moment in the global steel industry. The move follows months of regulatory review and stakeholder consultations and is expected to preserve and generate more than 100,000 jobs across the United States.

As reported by multiple sources, including the companies' respective websites, the deal ensures that U.S. Steel will retain its name and continue to operate from its historic headquarters in Pittsburgh, Pennsylvania. All production will remain firmly rooted in the United States, reaffirming the commitment to keep U.S. Steel “Mined, Melted, and Made in America.”

The transaction, which was approved under a rigorous national security review, includes a National Security Agreement (NSA) negotiated with the U.S. Government. According to the terms disclosed, U.S. Steel will continue to be managed by American leadership, with the majority of board members and key executives being U.S. citizens. Additionally, the company will maintain domestic production capacity and independence in trade policy decisions.

Notably, Nippon Steel has committed to investing approximately $11 billion into U.S. operations by 2028. This includes a greenfield project expected to be completed in the years following. According to a study by Parker Strategy Group commissioned by U.S. Steel, these investments are projected to safeguard and create over 100,000 jobs across multiple states, including Pennsylvania, Indiana, Arkansas, Minnesota, and Alabama.

In a joint statement, Nippon Steel Chairman Eiji Hashimoto credited former President Donald Trump’s “historic and visionary decision” for paving the way for this cross-border industrial partnership. “Nippon Steel is excited about opening a new chapter of U. S. Steel’s storied history,” Hashimoto said, adding that Nippon Steel aims to position the combined entity as the world’s leading steelmaker.

Takahiro Mori, Vice Chairman of Nippon Steel and incoming Chairman of the U.S. Steel board, emphasized the partnership’s alignment with American industrial and national security goals. “Since announcing our deal, I have engaged in extensive dialogue with many stakeholders, including the employees of U. S. Steel, government officials and community leaders, and I would like to express my sincere gratitude to all of them for their tremendous cooperation and support for this partnership,” Mori stated.

U.S. Steel CEO Dave Burritt also praised the agreement, calling it “a momentous day for our country.” He noted that thanks to strong political leadership, the company is now poised for “transformative investment” and long-term growth rooted in American soil.

According to the NSA, the U.S. Government will also hold a “Golden Share” in U.S. Steel, granting it veto power over key decisions such as changes to the company’s name or headquarters, offshoring of jobs or production, and major acquisitions within the U.S. market.

Following the completion of this acquisition, Nippon Steel’s global crude steel production capacity will increase to an estimated 86 million tons annually, bringing the group closer to its strategic goal of reaching 100 million tons.

Source: Nippon Steel