TOKYO (dpa-AFX) - Nippon Steel Corporation and Sanyo Special Steel Co., a unit of Nippon Steel, announced decision to consolidate the production of steel products and free forged products at Osaka Area of Kansai Works into Sanyo Special Steel Co. The relevant equipment from Osaka Area will be transferred to Sanyo Special Steel or its operation will be suspended.
Nippon Steel and Sanyo Special Steel will also make efforts to generate synergy effects from various viewpoints and improve the corporate value of the whole Nippon Steel Group.
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