US Steel is in talks to acquire National Steel. The report could be the first deal to stem from talks announced earlier this month about consolidation in the U.S. steel industry.
The goal of the consolidation is to reduce overcapacity, as well as make the U.S. steel industry more competitive with foreign produced steel.
National Steel is a subsidiary of NKK of Japan. On Sunday, Dec. 9th, US Steel said that any acquisition would be contingent on a number of conditions, including a restructuring of National Steel's debt and implementation of a Bush administration program to curb steel imports.Latest from Recycling Today
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