Companies

Nippon Steel Exec. Discusses U.S. Steel Acquisition Plan with USW’s David McCall

Reuters file photo
Takahiro Mori, executive vice president of Nippon Steel Corp., speaks in an interview in Tokyo in November.

The Yomiuri Shimbun

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.