OREANDA-NEWS. August 21, 2012. Nippon Steel Corporation (President: Shoji Muneoka, hereinafter “NSC”) has agreed with BlueScope Steel Limited, Australia (CEO: Paul O’Malley, hereinafter “BSL”) to establish a coated products (hot-dip galvanized sheets, painted sheets, and roll-formed building products) joint ventures in Southeast Asia and the U.S. (hereinafter the “Joint Venture”). The Joint Venture will consist of 14 operating entities in relation to such coated products, now being operated by BSL in those jurisdictions. The NSC Group will make an equity investment in the Joint Venture, through the purchase from BSL of 50% of BSL’s equity holdings in those operating entities, to organize them into a 50 : 50 Joint Venture between NSC and BSL as equal participants. The investment in this joint-venture group is expected: USD 520 million for NSC and USD 34 million for Nippon Steel & Sumikin Coated Sheet Co., Ltd., a consolidated subsidiary of NSC in the building product business, amounting in aggregate to USD 554 million for the NSC Group. Equity investment procedures are expected to be completed by the end of March 2013.