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Nippon Steel to buy Nisshin Steel to gird against China slump

2016-02-01 03:41:02| Steel - Topix.net

Japan's biggest steelmaker, Nippon Steel & Sumitomo Metal Corp., is set to buy Nisshin Steel Co., sources said Monday, in an attempt to withstand deteriorating conditions in the sector triggered by China's economic slowdown. Nippon Steel, which owns around 8 percent of Nisshin Steel, the fourth-largest player in the domestic market, is planning to purchase the remaining shares, the sources said.

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