Japan’s Nippon Steel Trading has agreed to acquire all shares in Slovak steel service center CLN Slovakia from Italy’s CLN Group. The deal, to be completed through subsidiary Nippon Steel Trading Austria GmbH, will expand the group’s steel processing and distribution operations in Europe.
Founded in 2007, CLN Slovakia operates at Nippon Steel Slovakia’s steelworks in Košice. It has steel processing capacity of about 220,000 tonnes, converting coils into narrow strips and sheets mainly for automakers and their suppliers.
Nippon Steel Trading said the acquisition would strengthen regional supply chains and support its business in automotive, construction, industrial machinery, home appliances and solar energy.
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