WORLD

WORLD
U.S. Steel enters talksto acquire National
TOKYO -- Japanese steelmaker NKK Corp. is negotiating to sell its U.S. subsidiary, National Steel Corp., to industry giant U.S. Steel, both companies confirmed Sunday.
Mishawaka, Ind.-based National Steel said no agreements have been signed with Pittsburgh-based U.S. Steel.
NKK has held a majority stake in National Steel since 1990, but the steelmaker has been losing money since 1999, weighing on NKK's group earnings, Kyodo News agency reported.
National Steel is the sixth-biggest U.S. steelmaker, employing about 9,000 workers and producing about 6 million tons of steel annually, NKK official Hiro Osaka said. He declined to provide further details about the talks.
Associated Press