Japan's Nippon Steel said on Thursday it has extended the closing period for its $15 billion purchase of U.S. Steel, expressing confidence that the acquisition will protect and grow the American company.

Japanese steel producer says it remains confident the acquisition “will protect and grow United States Steel.”

Nippon Steel's investment has the potential to extend the operational life of U.S. Steel plants bringing enhanced productivity, innovative practices and investment in research and development. New product lines could require expanded skillsets, leading to the creation of new jobs.