Sumitomo president outlines future with Nippon Steel

摘要

Sumitomo Metal Industries president Hiroshi Shimozuma has given his clearest indication yet that he sees his company's future linked to that of Nippon Steel.On December 11 SMI's board approved the start of work on a "feasibility study" on a possible tie-up with Nippon Steel, with particular focus on steelmaking at SMI's Wakayama works. Nippon Steel formally endorsed the proposal the following day.