Esmark, Inc. and Esmark Steel Group Reaffirms Support for U.S. Steel Merger by Nippon Steel
Esmark, Inc. and Esmark Steel Group today reaffirmed their support for the proposed merger between U.S. Steel and Nippon Steel and urges the Trump administration to revisit this alliance. The proposed merger is positioned to bring significant benefits to the combined company’s workers, strengthened U.S. national security, as well as bolstering America’s status in the international steel industry.
The merger will create a formidable force in the steel industry, capable of competing with global players and addressing the challenges posed by Chinese steel exports. By leveraging Nippon Steel’s advanced technology and U.S. Steel’s extensive market presence, the combined entity will set new standards for quality in steel production, enabling the combined organization to grow for the benefit of its employees, including its United Steelworkers (USW) union members, and the communities in which it operates.
“This merger is a game-changer for the steel industry. It brings together the best of both worlds – Nippon Steel’s cutting-edge technology and U.S. Steel’s deep-rooted market expertise,” said James P. Bouchard, Founder and Chairman of Esmark, Inc. “The combined entity will both strengthen America’s steel industry and create new opportunities for growth and development in the Pittsburgh area and beyond. Nippon Steel has shown that it would address concerns to keep production in the United States while employing advanced environmental technologies to reduce carbon emissions. A deal can be done here consistent with America First principles; and we urge the Trump administration to take a fresh look at the merger.”
Esmark strongly believes the Pittsburgh area, particularly the Mon Valley, stand to gain immensely from this merger. Nippon Steel has committed to investing no less than $1 billion in the Mon Valley Works and approximately $300 million in Gary Works as part of the $2.7 billion committed to revitalizing these facilities and surrounding communities1. This investment will create jobs, stimulate the local economies and support the growth of small businesses in the region.
“The merger between U. S. Steel and Nippon Steel will help the United States maintain its competitive edge in the global steel market and protect national security interests by ensuring a steady supply of high-quality steel,” said Roberto Alvarez, CEO of Esmark Steel Group. “The merger will bolster the American steel industry by combining the strengths of these two industry giants. As a metal service center, we can expect enhanced innovation, increased production efficiency and a more reliable supply chain.”
Last Updated on 12 hours by News Desk 1
