Nippon Steel Exec. Discusses U.S. Steel Acquisition Plan with USW’s David McCall
16:47 JST, March 9, 2024
Nippon Steel Corp. Executive Vice President Takahiro Mori on Thursday discussed the company’s proposed acquisition of United States Steel Corp. with David McCall, international president of the United Steelworkers (USW), which is opposed to the acquisition, the Japanese company said Friday.
They reportedly discussed a new employment system for the U.S. steel giant after the acquisition, among other things, at a meeting held in the United States. The U.S. labor union expressed concerns about the system.
According to Nippon Steel, the Japanese firm presented “commitments” to the union regarding employment, capital investment and the introduction of new technology after acquisition. The commitments will be incorporated into a legally binding document after an agreement is reached with the USW.
The USW released a statement saying that no progress was made in the meeting which ended in less than an hour, and Nippon Steel had not yet gained its trust.
Nippon Steel is set to continue persuading the USW in order to realize the acquisition.
"Business" POPULAR ARTICLE
-
Weakening Yen Adds Complexity to BOJ’s Rate Hike Decisions; Rising Commodity Prices may Impact ‘Virtuous Cycle’ Efforts
-
Japanese Seafood Exports to China Sink 57% in FY23; U.S. Becomes Largest Seafood Export Destination
-
70% of Japan Companies to Raise Pay Scales in FY 2024
-
Minutes Show Policymaker Wants BOJ to Consider Further Rate Hikes Further
-
48.6% of Global Patent Applications Related to All-Solid-State Batteries Came from Japanese Firms; Panasonic Tops List
JN ACCESS RANKING
- Weakening Yen Adds Complexity to BOJ’s Rate Hike Decisions; Rising Commodity Prices may Impact ‘Virtuous Cycle’ Efforts
- Japanese Seafood Exports to China Sink 57% in FY23; U.S. Becomes Largest Seafood Export Destination
- 70% of Japan Companies to Raise Pay Scales in FY 2024
- Minutes Show Policymaker Wants BOJ to Consider Further Rate Hikes Further
- 48.6% of Global Patent Applications Related to All-Solid-State Batteries Came from Japanese Firms; Panasonic Tops List