Nippon Steel Corp. (NSC) has agreed with BlueScope Steel Ltd., Australia (BSL) to establish a coated products joint ventures in Southeast Asia and the United States, it was announced on Aug. 13.
The joint venture will consist of 14 operating entities in relation to such coated products (hot-dip galvanized sheets, painted sheets and roll-formed building products), now being operated by BSL in those jurisdictions.
The NSC Group will make an equity investment in the joint venture, through the purchase from BSL of 50 percent of BSL’s equity holdings in those operating entities, to organize them into a 50:50 joint venture between NSC and BSL.
The investment in this joint-venture group is expected to be $520 million (40.7 billion yen) for NSC and $34 million for Nippon Steel & Sumikin Coated Sheet Co., a consolidated subsidiary of NSC in the building product business, totaling $554 million for the NSC Group.
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