VICE CHAIRMAN OF NIPPON STEEL PROMISES MAJOR INVESTMENT IN STEEL INDUSTRY

The vice chairman of Japan’s Nippon Steel is again promising major investment in the Mon Valley and Western Pennsylvania now that the merger with U.S. Steel is approved.  Vice Chairman Takahiro Mori penned an open letter this week that has been published in the Pittsburgh Post-Gazette.  In the letter, Mori again promises to revitalize the region’s steel industry, committing to a two-billion-dollar renovation at the Mon Valley Works.  He also says there are plans to relocate Nippon’s U.S. headquarters from Houston to Pittsburgh and to build a 500-million-dollar research and development center in the area.