Japan’s NSSMC to acquire Sweden's Ovako, make Sanyo Steel subsidiary

Japan’s Nippon Steel and Sumitomo Metal Corporation will expand its global presence in special steels markets by acquiring Swedish special steels maker Ovako and making Japanese steel maker Sanyo Special Steel its subsidiary.

The major Japanese steel producer intends to acquire Ovako from private equity fund Triton in the first half of the 2018 fiscal year subject to approval from the competition authorities, NSSMC said on Thursday March 15.

Ovako produced 1.01 million tonnes of steel in 2017 from its electric-arc furnace (EAF) manufacturing facilities in...


Paul Lim

March 15, 2018

13:10 GMT

Singapore, London