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Nisshin Steel Co. Ltd.’s chairman, Yuzuru Abe, has resigned from the board of directors of Wheeling-Pittsburgh Steel Corp., which has filed for reorganization under federal bankruptcy laws.
Tokyo-based Nisshin owns 500,000 shares, or 9.8%, of Wheeling-Pittsburgh common stock.
Published reports last week said Nisshin officials are known to have been extremely displeased with Wheeling-Pittsburgh’s chairman, Dennis J. Carney. Nisshin in July petitioned the bankruptcy court for establishment of a separate shareholders committee.
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