Posted in | News | Ferrous Alloys and Metals | Iron and Steel | Automotive Materials

Nippon Steel and ArcelorMittal Sign MOU

Jul 14 2007

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Nippon Steel Corporation and ArcelorMittal today executed a non-binding, memorandum of understanding on matters including their global strategic alliance and joint business activities in North America. The companies have discussed those matters since the creation of AM in July 2006.

  1. With respect to the agreements relating to the global strategic alliance between NSC and Arcelor, the companies have basically agreed that AM would replace Arcelor to assume the rights and obligations of Arcelor under those agreements with certain modifications. The companies will negotiate and execute definitive, amended agreements hereafter.
  2. With respect to the joint business activities focused on automotive steel sheet in North America, the companies are discussing and studying expansion of the business, and intend to enter into definitive agreements as soon as they have come up with a definite plan.

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