Nippon Steel holding talks with Mittal Steel

Nippon Steel holding talks with Mittal Steel

Nippon Steel of Japan has confirmed that they are currently holding talks with the world’s largest steel company Mittal Steel. This would be the first major talks with another company for Mittal after their confirmed deal with Arcelor.

The steel industry in the Japanese market is highly profitable and market analysts believe that the combined Arcelor Mittal entity would be more than interested in expanding in this market.

With Japan being such a highly competitive automobile market, Steel industry here has a huge potential for growth.

Nippon Steel already has separate deals signed on with Mittal Steel and Arcelor. However, they are not revealing much on their current talks with the giants in the steel industry.

Nippon Steel spokesman had just this to say about these talks: “There were business negotiations, but we would rather not comment on any details.”