Arcelor Mittal, Nippon Steel to double U.S. output

Newswire

TOKYO, March 26 (Reuters) - Arcelor Mittal and Nippon Steel Corp. plan to jointly invest about 30 billion yen ($254 million) to double capacity at their U.S. venture and to consider further expansion of their alliance, the Nikkei business daily reported on Monday. The paper said the world's No. 1 and No. 2 steelmakers, which own a 50-50 joint venture for automotive steel sheets in Indiana, plan to build a new plant to meet strong demand from Japanese automakers such as Toyota Motor Corp. ...

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