Nippon Steel’s Yoshiro Mori to meet with steelworkers in Pittsburgh next week

(Bloomberg) — Nippon Steel Corp Vice President Takahiro Mori plans a trip to the United States that will include meetings next week with workers representing the three local unions that run U.S. Steel Corp.’s iconic Pittsburgh plant.

The move signals the Japanese company’s efforts to convince rank-and-file union members that its $14.1 billion bid to buy U.S. Steel will benefit workers’ long-term prospects. President-elect Donald Trump said during the campaign that he would block the deal, which remains before regulators.

Jason Zugai, vice president of United Steelworkers Local 2227, said in an interview that he received Mori’s personal email and agreed to sit down with the executive next week at an unspecified time and will bring in multiple union members from Edgar member. Thomson Factory, Clayton Factory and Irving Factory. Zugay said he hoped International Steelworkers president David McCall, who has been staunchly opposed to the deal since it was announced in December, would also sit down with Mori and reconsider his position.

The news comes as the companies await a decision from the Committee on Foreign Investment in the United States (CFIUS) on the pending deal. Earlier this year, the safety panel approved Nippon Steel’s resubmission of its takeover plan. The potential takeover became a hot topic in the election, especially in the swing state of Pennsylvania, where U.S. Steel and U.S. Steel are both located. The election has passed and investors, analysts and the wider industry are eager for a decision.

Nippon Steel did not immediately respond to a request for comment. U.S. Steel declined to comment.

McCall said in a statement that he was unaware of meetings between local union members and Mori. He reiterated the position that the national union is seeking a written contract from Nippon Steel to guarantee capital investment. He said the current terms of the deal would come “at the expense of defence” and critical supply chains.

In the interview, Zugay said he wanted to tell Mori that he and his fellow steelworkers wanted their labor contracts extended: “Another four years, with the same raises. That would go a long way in getting the deal done.” ”

“I’m doing everything I can to get this deal done,” Zugay said.

Zugay also said Sen will play in this weekend’s football game between the Pittsburgh Steelers and the Baltimore Ravens.

Mori may also stop in New York and Washington during his visit, according to a person familiar with the matter who asked not to be named. The trip has been in the works for weeks but the company is waiting for the U.S. election on Nov. 5 to be approved, the person said.

McCaul, the union president, said in an interview last month that he was making a last-ditch effort before the election to highlight to his members why union leadership opposed a Japanese takeover, a move that comes as rank-and-file members publicly challenge his approach . Location. In October, a group of union members spoke out on the Fox News morning show in support of Nippon Steel’s takeover of the storied American company.

The day before the election, Zugay said he and many other steelworkers stood beside Trump at a campaign rally in Pennsylvania to show support for the candidate. Zugay said he then spoke with Trump about the deal for about three minutes and told him that many steel workers supported the deal.

It is unclear whether Trump will make a decision to approve or terminate the deal, as the CFIUS decision has been delayed until December while the Biden administration is still in office.

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