Nippon Steel buys Košice steel processor C.L.N. to expand EU business

Japan's Nippon Steel is buying Košice-based C.L.N., which processes steel sheet for carmakers and engineering firms at the steel mill site, from Italy's C.L.N. Coils Lamiere Nastri group. It is acquiring the firm, which has over 50 employees, via Austrian subsidiary Nippon Steel Trading and will rename it NST Service Center. It aims to expand sales to construction and to makers of appliances and solar panels. The acquisition is part of an effort to make the Košice steel mill Nippon Steel's EU business hub. (dennikN.sk) C.L.N.'s net profit fell 27% to €0.9m last year, while revenue rose 15% to €92.8m.