Nippon Steel & Sumitomo Metal Corporation (NSSMC), one of the world's largest steel producers, has signed an agreement with funds advised by Triton to acquire 100 percent of Ovako Group. The acquisition is subject to regulatory approval.
NSSMC is a global market leader in steel production with world-leading technologies and manufacturing capabilities. The group makes a wide range of value-added steel products in more than 15 countries as well as at 12 steelworks in Japan. For the fiscal year ended March 31, 2016, NSSMC reported a crude steel production on a consolidated basis of 45 million tons.