On August 29, Nippon Steel Co. announced that it would spend an extra $1.3 billion on investments in two US Steel Co. plants once its attempt to purchase US Steel for $14 billion goes through. The latest plans almost double a previous announcement earlier this year to spend $1.4 billion on other improvements through 2026, increasing the total to $2.7 billion.
But despite the promises, Nippon Steel’s acquisition of US Steel remains contentious, with the United Steelworkers and several prominent U.S. politicians opposed to the purchase of the one-time U.S. metals giant by a foreign company.
https://www.industryweek.com/news/article/55137258/nippon-steel-announces-plan-to-upgrade-us-steel-plants