Nisshin Steel shelves stainless steel deal with Nippon Steel.
Nisshin Steel Co., Japan's sixth-largest steelmaker, said Tuesday it has shelved its plan to integrate stainless steel operations with Nippon Steel Corp., Japan's biggest steelmaker, by the end of the year.
The decision was made as the steel products market has further worsened, making it increasingly difficult for the planned alliance to generate the desired results, Nisshin Steel said in a statement.
Nisshin Steel and Nippon Steel had been considering integrating their stainless steel operations since July 1999 as they lost money in the sector.
Nisshin Steel said it will continue to consider potential business alliances in other areas.
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|Comment:||Nisshin Steel shelves stainless steel deal with Nippon Steel.|
|Publication:||Japan Weekly Monitor|
|Date:||Dec 10, 2001|
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