president and CEO
U.S. Steel
Source: U.S. Steel
Access to technology and expertise in integrated mills are among the advantages that will accompany the U. S. Steel–Nippon Steel merger, according to David Burritt, U. S. Steel’s CEO. Heat treatment processes are an element in integrated mill operations within both companies’ profiles.
On December 18, 2023, it was announced that Japanese steelmaker Nippon Steel (NSC) would acquire Pittsburgh–based U. S. Steel. Under the deal, Nippon Steel would acquire the company for $14.1 billion, which totals to $14.9 billion when including the assumption of U.S. Steel’s debt. As part of the deal, Nippon Steel will invest $1.4 billion in U. S. Steel’s assets and will share technical knowledge, stated Burritt during his keynote address to the 2024 Global Steel Dynamics Forum.
“They’re experts in integrated mills, and they want to invest here,” he said.
In April, Nippon Steel released a statement that the merger will include U. S. Steel having access to Nippon’s technologies and R&D advancements, “help[ing] U. S. Steel produce more advanced and environmentally sustainable steel for domestic customers.”
