USSK to be positioned as a core operating hub in Europe in Nippon Steel’s global strategy

Transition to direct ownership by Nippon Steel scheduled to take place on October 1, 2026,
with renaming to Nippon Steel Slovakia s.r.o.

Strategic shift to deepen long-term commitment and strengthen regional management

 

Nippon Steel Corporation (“Nippon Steel”) has decided to transition U. S. Steel Košice, s.r.o. (“USSK”), a Slovakia-based wholly-owned subsidiary of United States Steel Corporation (“U. S. Steel”), to direct ownership by Nippon Steel (making it a wholly-owned subsidiary of Nippon Steel).

Since commencing operations in 1965, USSK has contributed to the development of the European manufacturing industry by supplying high-quality steel products to a wide range of sectors, including automotive, electrical, packaging, energy, and construction, primarily in Central and Eastern Europe.

Based on the strategic location advantage, diverse portfolio of flat steel products, solid customer base, highly skilled workforce, and sound facilities USSK has cultivated over the years, Nippon Steel has been working, since its acquisition of U. S. Steel in 2025, on enhancing USSK’s competitiveness by further promoting the sharing and collaboration of technology, human resources, and sales and procurement networks.

The European steel market is the third largest in the world after China and the United States, and is a mature market with large demand for high-grade steel, for which Nippon Steel can leverage its state-of-the-art product technologies. Especially in Central and Eastern Europe, economic growth is expected to continue and demand for high-grade steel is expected to increase driven by customers’ relocation of manufacturing bases.

Europe is undergoing a major structural transformation due to trends in decarbonization and geopolitical uncertainties. It is also a market with a high intra-regional self-sufficiency rate due to factors including tariffs, safeguards, and the Carbon Border Adjustment Mechanism (CBAM). Nippon Steel therefore finds it important to capture the growing demand as an insider.

By direct ownership of USSK, Nippon Steel will establish the company as a core hub for its European operations in its global strategy, and become more directly involved in enhancing the profitability and accelerating the growth of its European business.

The transition to the new structure is scheduled to take place on October 1, 2026, and on the same day, the company name will be changed to “Nippon Steel Slovakia s.r.o.” (abbreviation: NSSK).

Through this transition, U. S. Steel will concentrate its management resources on its U.S. operations to enhance competitiveness in this market. In Europe, by establishing a management structure with direct ownership by Nippon Steel, the Nippon Steel Group’s management resources will be used to pursue sustainable profit growth.

Takahiro Mori, Representative Director and Vice Chairman of Nippon Steel and concurrently Chairman of the Board of Directors of U. S. Steel, said:
“I would like to express my sincere respect for USSK’s 60-year history of outstanding operations and development, as well as its strong business performance under U. S. Steel since 2000. Going forward, Nippon Steel will further deploy cutting-edge technology and management resources to USSK to enhance its business foundation, while also advancing mid to long-term investments, including decarbonization initiatives. Through these efforts, we will continue to contribute to European industry and our customers.”

Dave Burritt, U. S. Steel’s President and CEO stated:
“Since 2000, USSK has been an important and valued part of U. S. Steel’s global footprint, delivering strong operational performance through changing market cycles and often challenging conditions. We are deeply grateful to the people of USSK for their resilience, skill, and unwavering commitment to excellence.

As we look toward the expected transition, we are confident USSK will have a strong future as part of Nippon Steel. Nippon is one of the world’s most respected steelmakers, with deep technical expertise, a commitment to quality, and values that align closely with the culture and capabilities built at USSK over many years.

This transition also sharpens U. S. Steel’s focus on our U.S.-based operations and our historic growth strategy in America. With the support of Nippon Steel and our extraordinary employees, we are accelerating investments, strengthening our competitive position, and helping forge a stronger future for American steelmaking for generations to come.”

Together with U. S. Steel and USSK, Nippon Steel extends its sincere gratitude to all stakeholders who have supported USSK to date, including local communities, customers, business partners, and employees.

Marking this organizational transition as a symbolic milestone, the Nippon Steel Group will continue to contribute to the development of European industry and society by providing its high-quality products and services.

<Overview of USSK>

• The largest steelmaker in Central and Eastern Europe
• History
  • 1959: Established as the state-owned enterprise “East Slovakian Steel Works (VSŽ)” 
  • 1965: Commenced operations 
  • 2000: Acquired by U. S. Steel 
  • 2025: Partnership between Nippon Steel and U. S. Steel started (U. S. Steel joined the Nippon Steel Group)
• Crude steel capacity: 4.5 million tons per year 
• Major facilities: 3 blast furnaces; hot rolling, cold rolling, annealing, tinplate and galvanizing lines; and non-oriented electrical steel mill
• Employees: 7,573 (as of the end of 2025)
• Revenue: €2.90 billion (FY2025)
• Crude steel production: 3.22 million tons (FY2025)
• Customers: Automotive, electrical, packaging, energy, construction, service centers, etc.

For inquiries, https://www.nipponsteel.com/en/contact/