Nippon Steel to take direct control of U.S. Steel’s European subsidiary

United States Steel Corp.’s European subsidiary will be moving to direct ownership by Nippon Steel Corp., the world’s fourth-largest steelmaker that acquired U.S. Steel last June.

Nippon Steel announced Wednesday that U.S. Steel Košice, which is based in Slovakia, will be transferred from U.S. Steel ownership to Nippon Steel ownership on Oct. 1 with a new name Nippon Steel Slovakia. U.S. Steel has owned the 61-year-old company, the largest steelmaker in Central and Eastern Europe, since 2000.

“Going forward, Nippon Steel will further deploy cutting-edge technology and management resources to USSK (U.S. Steel Košice) to enhance its business foundation, while also advancing mid- to long-term investments, including decarbonization initiatives,” said Takahiro Mori, vice chairman of Nippon Steel and Chairman of the U.S. Steel Board of Directors. “Through these efforts, we will continue to contribute to European industry and our customers.”

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