Japan’s Nippon Steel Trading has agreed to acquire all shares in steel processing service center CLN Slovakia from Italy’s CLN Group. The deal will be carried out by Nippon Steel Trading’s subsidiary, Nippon Steel Trading Austria GmbH. The acquisition will strengthen Nippon Steel Trading’s European steel supply and processing network.
Steel processing capacity for the automotive industry: 220,000 tonnes
Founded in 2007, CLN Slovakia operates on the site of Nippon Steel Slovakia’s steelworks in Košice. Its steel processing capacity is about 220,000 tonnes. The company processes steel coils into narrow strips and sheets, supplying mainly automakers and their suppliers.
Acquisition to strengthen regional supply chains
The deal will help Nippon Steel Trading expand its operations in the automotive industry, construction, industrial machinery and home appliances, as well as the solar energy sector.
Author: SteelOrbis editorial team