In response to a "harsh business environment", five companies under major Japanese steelmaker Nippon Steel & Sumitomo Metal Corporation (NSSMC) Group will integrate and reorganize their welded stainless steel pipe and tube businesses, the group announced on Thursday August 2.
The change will take place around April 1, 2019, after Nisshin Steel Co., Ltd becomes a wholly-owned subsidiary of NSSMC. Nisshin Steel is currently 51%-owned by the group.The automotive stainless steel electric resistance welding pipe and tube businesses, conducted by Nippon Steel & Sumikin Pipe (NSPC), Nippon Steel & Sumikin Stainless Steel Pipe (NSSP) and Nisshin Steel, will be integrated into NSPC.The process of electric resistance welding that produces the tubing and piping, mainly for use in automobile...