TOKYO -- Nippon Steel & Sumitomo Metal has resolved years-long differences with Ternium over governance at their jointly held Brazilian unit Usiminas, the Japanese steelmaker said Friday.
Ternium, a steel group based in Argentina, controls 40% of Usinas Siderurgicas de Minas Gerais, commonly known as Usiminas, while Nippon Steel owns 33%. The two sides have fought for three and a half years for control over the Brazilian steel producer.
