Mitsui allies with Nucor Corp in steel processing business

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Mitsui & Co (USA), a wholly owned subsidiary of Mitsui & Co Ltd, has entered an agreement with Nucor Corporation to own and operate a flat rolled steel processing network and other steel related projects throughout North America.

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Mitsui USA will transform wholly-owned sub Steel Tech into a holding company, to be called NuMit LLC. Steel Tech will serve as the foundation for NuMit, and will enhance its flat rolled steel processing operations in North America.

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Together with Mitsui’s global experience and Nucor’s manufacturing and technology, NuMit will expand its business domain to other steel related projects throughout the world.

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Mitsui intends to invest the proceeds from the transaction into further Numit investments. Closing of the transaction will occur after satisfactory resolution of regulatory approvals and other closing conditions.

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