Recently, according to the news report of the European Commission website, the EU approved Japan's Sumitomo Corporation and Nippon Steel to acquire the US Standard Steel Holding Company. Currently, Nippon Steel only controls the US Standard Steel Holding Company. American Standard Steel Holdings produces forged steel wheels and axles for freight rail vehicles, rolling stock and passenger rails, primarily operating in North America.

The European Commission said that the proposed acquisition would not cause competition concerns because standard steel is mainly active in North America, and its activities and turnover in the European Economic Area are very limited. The transaction was reviewed in accordance with a simplified merger review process.