History of Nippon Steel
Nippon Steel is the fourth largest steelmaker in the world. Producing 26.5 million tonnes (mt) of steel in 2010, the company plans to merge with Sumitomo Metal Industries, creating the world's second largest steelmaker.
The timeline below covers the history of the firm.
- 1901: Start of steelmaking operations of Yawata Steel Works.
- 1934: Japan I&S formed from merger of several mines & works.
- 1950: Fuji Steel formed from assets of Japan Iron & Steel.
- 1970: Fuji Steel and Yawata Steel merged into Nippon Steel Corp.
- 1975: Nippon Steel becomes largest steelmaker in the world.
- 1987: Downsizing announced - closure of 5 BFs, loss of 19000 jobs.
- 1987: Start-up of I/N Tek cold rolling jv announced [Inland & Nippon].
- 1989: Formation of I/N Kote jv [Inland Steel jv, auto HDG and EGL].
- 2003: Arcelor, Baosteel and Nippon - auto steel jv formed in China.
- 2003: Consolidation of stainless units of Nippon & SMI into NSSC.
- 2006: Nippon introduces defence measures for hostile takeovers.
- 2008: ArcelorMittal expands Nippon jv: new galv line at I/N Kote.
- 2011: Tata Steel & Nippon Steel sign jv deal to build CAPL in India.
- 2011: Nippon Steel & Sumitomo Metal Industries reveal merger plan.
Notes
- 1934 consolidation involved the Wanishi Iron Works, the Kamaishi Mines, Mitsubishi Iron, Kyusyu Steel, Tokyo Steel and other assets.
- 1975: Nippon ranking as top steelmaker (with US Steel displaced from the top position) is by crude steel production volume.
- 2003: Arcelor, Baosteel, Nippon jv centres on a Shanghai facility close to upstream plant of Bao Steel - which will focus on cold rolling and galvanising [annual capacity of 1.7 mt of flat rolled steels].
- 2003: The merger of the stainless steel divisions of Sumitomo Metal Industries and Nippon steel created Japan's largest stainless steelmaker - Nippon Steel and Sumikin Stainless Steel corporation [NSSC].
- 2006: Following Mittal's bid for Arcelor, most Japanese steelmakers took measures to prevent hostile takeover bids incl Nippon, JFE, Sumitomo Metal Industries and Kobe Steel Ltd.
- 2011: Tata / Nippon jv is for 600kt/yr automotive cold-rolled steel continuous anneal and process line at Jamshedpur, India.
- 2011: Merger of Nippon Steel and Sumitomo Metal Industries is subject to antitrust approval by the Japan Fair Trade Commission [review underway as at mid-2011].
- 2013; Expected launch of Tenigal [hot-dip galvanized and galvannealed sheets] in Monterrey, Mexico.
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