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Nippon Steel announced on September 4 that it has terminated all related lawsuits and disputes with its wholly-owned subsidiary Nippon Steel North America (NSNA), US Steel, X56 steel the United Steelworkers (USW), and Cleveland-Cliffs Inc.
This settlement covers the lawsuits previously filed by Nippon Steel, NSNA, and U.S. Steel against David McCall, Chairman of USW International, as well as USW's allegations of unfair labor practices filed by U.S. Steel with the National Labor Relations Board (NLRB). X56 steel, Nippon Steel emphasized that the termination of the relevant lawsuits did not involve any financial compensation, and all parties will continue to focus on steel production and collective bargaining efforts.
Meanwhile, the lawsuit between Nippon Steel, NSNA, U.S. Steel, and Cleveland Cleveland Cleveland regarding Nippon Steel's acquisition of U.S. Steel has also been terminated. On July 1st of this year, Nippon Steel withdrew its lawsuits against former President Biden and the Committee on Foreign Investment in the United States (CFIUS).
Following its acquisition of U.S. Steel on June 18, Nippon Steel plans to invest approximately $11 billion in U.S. Steel to improve its operational efficiency. X56 steel, The company plans to fully upgrade the capacity of its Big River 2 plant in Arkansas starting in 2026, an investment expected to increase U.S. Steel's annual domestic crude steel production capacity from 17 million tons to 20 million tons.
