Showing posts with label Nippon Steel Corp. Show all posts
Showing posts with label Nippon Steel Corp. Show all posts

September 12, 2010

Nippon Steel targeting at steel capacity expansion to 60 million tonnes

In a recent statement to Nikkei, Mr Akio Mimura chairman of Nippon Steel Corporation said that his company hopes to produce 60 million tonnes of steel a year at domestic and overseas plants. He said that the company’s annual domestic production is currently 30 million tonnes to 40 million tonnes. He further added that expanding by taking over foreign firms could be difficult for Nippon Steel because of possible intervention by governments. "We will expand output capacity by forming loose alliances with overseas firms," as he said. At present Nippon Steel Corporation is the world’s fourth largest steel producer in the world.