Steel News

Nippon Steel Names New President

1/10/2019 - Japan’s Nippon Steel & Sumitomo Metal Corp. has tapped executive vice president Eiji Hashimoto to lead the company come this spring. 

 In an announcement Thursday, the steelmaker said Hashimoto, 63, will succeed Kosei Shindo as president, effective 1 April. Shindo will become the company’s chairman. 

During a press conference Thursday, Hashimoto expressed a desire to grow the company into the world’s No. 1 steel producer, according to Japanese news agency Kyodo News. Hashimoto said it’s a feasible goal, considering the company’s wide range of products, skilled workforce and its global network, the news service reported. 

“There is a fair chance that we can become the world’s No. 1 comprehensive steelmaker,” he said. 

Nippon Steel is currently the world’s third-largest producer, behind ArcelorMittal and China Baowu Group. It produced 47.4 million metric tons of steel in 2017; ArcelorMittal made 97 million metric tons, according to World Steel Association data.