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News In Brief

Joint venture brings Japan into American Big Steel

Japan took a giant step into the American steel industry Tuesday, with Nippon Kokan buying 50 percent of National Steel Corporation in the largest joint venture ever between a Japanese and American steelmaker.

Announcement of the $322 million deal came about a month after Pittsburgh-based National Steel called off a plan to merge with United States Steel Corporation because of anticipated antitrust objections.

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