AP Japan's two major steelmakers Nippon Steel Corporation and Sumitomo Metal Industries 3, announced the two companies intend to implement merged to become the world's second largest steel maker.

Some analysts believe that merging the two companies will focus on overseas markets, to maintain the international competitiveness of Japanese steel companies.

Nippon Steel Corporation and Sumitomo Metal Industries 3 at a joint press conference announced its intention to October 1, 2012 to complete the merger process.

Urge the Government to support the merger

For crude steel production, the newly formed steel companies will become the world's second largest giant, second only to Luxembourg-based Arcelor Mittal Steel Group. The two Japanese firms in 2010 total output of 47.89 million tons of crude steel.

, Chairman of Nippon Steel and Sumitomo Metal Akio three villages under the wife of Bo, chairman of the evening of 3 urges the Japanese Government to support the merger.

Prime Minister Naoto Kan said the same day, the merger that the two sides Management "in the determination to survive global competition."

Nippon Steel and Sumitomo Metal, Japan's steel companies at this stage, carved out the first and third. The former has 52,000 employees and fiscal year 2010 sales expected to reach 4.1 trillion yen (about 50.2 billion U.S. dollars); the latter is about 2.4 million employees, sales are expected over the same period was 1.5 trillion yen (18.4 billion .)

Japan's Kyodo News analysis, two after the merger, and iron ore, coking coal prices of raw materials suppliers will be more say in negotiations.

Japan's Resona economic analyst research institutions of the new wood show (phonetic) said: "If they do not take action, will lag behind South Korea and other countries from competitors."

British "Metal Bulletin" reported in June last year, Nippon Steel's crude steel output in 2008 as the world's second, however, affected by the economic downturn of 2009 to reduce annual global ranking dropped to sixth, by China, South Korea, some of business to catch up

frindes links : www.mesh-fence-panels.com