WCA September 2018

Industry news Nippon Steel and Sumitomo Metal Corporation closes the acquisition of Ovako NIPPON Steel and Sumitomo Metal Corporation (NSSMC), one of the largest steel producers in the world, has confirmed the closing of the acquisition of Ovako Group. Ovako will continue to drive its business under the Ovako brand and will legally be part of NSSMC as a subsidiary. “We are very pleased to now fully begin our journey as part of NSSMC. For Ovako, the acquisition means that we now have a strong industrial owner in the global steel industry,” said Ovako president and CEO Marcus Hedblom. “We are looking forward to leverage NSSMC’s technological expertise and global reach to deliver even more value to our customers.” Ovako announced on 15 th March 2018 that NSSMC had entered into an agreement to acquire 100 per cent of Ovako Group from Triton. The parties have agreed not to make the terms and conditions of the transaction public. NSSMC Group manufactures a wide array of advanced steel products in more than 15 countries, including 12 steel mills in Japan. NSSMC reported steel production at the consolidated level of 45 million tons for the fiscal year ending 31 st March 2016. Nippon Steel and Sumitomo Metal Corporation – Japan Website : www.nssmc.com Ovako AB – Sweden Website : www.ovako.com New director of operations Miltec UV has appointed Oliver Hamann as its new director of operations. Mr Hamann brings more than 20 years of extensive knowledge in systems engineering, opto-mechanical design and manufacturing, fibre optics, lasers, microscopy, computer vision, particle characterisation and spectroscopy. He has a Master of Science in Physics from the Universitat Hamburg in Germany, his country of origin. Miltec UV – USA Website : www.miltec.com

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Wire & Cable ASIA – September/October 2018