Nippon Steel to buy Thai steelmakers in deal worth up to $763m

22-Jan-2022 Intellasia | BangkokPost | 5:02 AM Print This Post

Japan’s biggest steelmaker Nippon Steel Corp will buy two electric arc furnace steelmakers in Thailand in a deal worth up to $763 million, it said on Friday, as it seeks to cut its reliance on blast furnaces that use coking coal and emit carbon dioxide.

Nippon Steel will pay about $300 million to buy stakes in Thai steelmakers G Steel and GJ Steel. The total cost of the acquisition will be up to $763 million, a spokesperson told Reuters.

The company was in talks to buy a steel mill in Southeast Asia to secure iron-making resources in the growing market, a senior executive told Reuters in November.

https://www.bangkokpost.com/business/2251355/nippon-steel-to-buy-thai-steelmakers-in-deal-worth-up-to-763m

 

Category: Thailand

Print This Post

Comments are closed.