Malaysian Metals Group Sells $ 26 Million Non-Core Asset To Expand Its Participation In Steel Business /
January 8, Kuala Lumpur. Malaysian steel company Lion Industries wants to sell 50 percent of its non-core asset Angkasa Amsteel Pte Ltd to South Korean steel giant Daehan Steel Co Ltd. The aim of the group is to expand the production of sheet steel. The deal, after approval by the company's shareholders, should be completed by the first quarter of this year. Its cost, according to experts, will be more than $ 26 million.
The company is gradually getting rid of the trade in construction fittings as a non-core activity. Its representatives said that the transaction should not lead to any financial changes: neither profit nor loss.
The group first announced its plans to expand its sheet steel production in July 2018. Her intentions are accompanied by the increasing value of the company's shares. Lion Industries' profits rose 6.7 percent last year.
+38 (097) 475-20-95
|
|
|
Subscribe to news 
Metallurgy news
- Today
15:00 15:00 14:00 Assofermet Acciai: The Italian market remained weak in February under pressure from CBAM and new EU measures 14:00 Nippon Steel to acquire 10 percent stake in Malaysian Leform for $6.37 million 12:00 Spanish company Sidenor will close Azkoitia rolling mill 12:00 Researchers from India and Australia are developing a method to reduce emissions from steel production using agricultural waste. 11:00 Türkiye detects dumping of CR and coated steel from South Korea and China 11:00 India becomes a net exporter of finished steel in April-February 2025-26 fiscal year
Publications
06.03 Special protection for robots and safety 05.03 Suzuki V-strom 800 de: why choose this motorcycle? 05.03 Automatic transmission cooling radiator: how to choose and where to buy 04.03 Zener diodes: the key to reliable operation of electronic systems in rolled metal 04.03 How to check the validity of bank gold
