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Global flat steel market is significantly fragmented with key market players including
Steelmakers are engaged in mergers & acquisitions and partnerships so as to expand their product portfolio and cater to the rising product demand across the globe. Major manufacturers are focusing on partnerships to gain a competitive edge in the industry. In March 2019, Nippon Steel confirmed the completion of procedures to acquire 51% of the common shares of Sanyo Special Steel Co., Ltd. Sanyo will legally be a part of NSSMC as a subsidiary. The agreement is expected to strengthen the special steel business for both companies and promote global flat steel market sales.
In June 2019, Tata Steel completed the acquisition of Bhushan Energy, which operates as a division of Bhushan Steel. This agreement will help enhance company’s ability to provide high performance steel materials for use in several end use industries.