Nippon Steel (NPSCY) shared a letter to U.S. Steel (X) employees, saying in part: “We had hoped that continued discussions with the USW leadership would result in their support for the transaction. Our goal has been to listen to their concerns and to build on our commitments to spend $2.7 billion in capital investments at unionized facilities, share our world-class technological innovations, and secure union jobs so that American steelworkers at U. S. Steel can manufacture the most advanced steel products in the United States for American customers. During our recent discussions with the USW leadership, we listened carefully to the USW’s requests for further details on our future plans….No less than $1 billion will be spent at Mon Valley Works…Approximately $300 million will be spent at Gary Works…Nippon Steel also intends to maintain the operation of all blast furnaces currently operating and to schedule six blast furnaces (two at Mon Valley and four at Gary) for relining or major repair by 2030 in order to extend their useful lives for many years to come.”
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