BRADDOCK, Pa. — (WPXI) – Japanese-based Nippon Steel, as part of its plans to acquire US Steel, announced Wednesday it expects to invest “no less than $1 billion” into the US Steel plants in the Mon Valley: the Edgar Thomson plant in Braddock, Clairton Coke Works in Clairton, and the Irvin Plant in West Mifflin. According to Nippon Steel, the investment will improve yield and product quality, while also increasing energy efficiency and enhancing overall operating effectiveness. According to Nippon Steel, the investment will improve yield and product quality, while also increasing energy efficiency and enhancing overall operating effectiveness. In a statement, the Japanese company said, “Nippon Steel plans to ensure Mon Valley Works operates for decades to come and will undertake the necessary investments so that it remains viable and provides jobs for future generations of steelworkers in Pennsylvania.” The United Steelworkers union fired back at Nippon Steel in a statement of their own saying, “Nippon talks a big game, but at the end of the day, a press release is not a contract. Even as it pays lip service to one of the union’s ongoing concerns, Nippon continues to duck the USW’s input.” US Steel released the following statement: “Nippon Steel’s announcement of its plan to invest approximately $1.3 billion in U. S. Steel union-represented facilities, on top of the $1.4 billion capital commitment they previously announced, is further evidence of its unwavering commitment to U. S. Steel and all of our stakeholders.
Nippon Steel Announces Plans To Invest In Plants
August 29, 2024 4:53 am