Japanese steel producer Maruichi Steel Tube Ltd. has agreed to acquire all shares of construction steel producer Sato Mold Steel Works from Minori No. 3 Investment Limited Partnership. Minori No. 3 Investment Limited Partnership is managed by Basic Capital Management.
Japanese steel producer Maruichi Steel Tube has announced that it will offer high-strength products benefiting from the technology advantages of Sato Mold Steel Works. These new products offer significant advantages in terms of processability and cost, and will be widely used in logistics warehouses, factories and other applications expected to be in high demand in the future.
The purchase is expected to increase Maruichi Steel Tube's sales of surface-treated steel plate and ensure a continuous supply of material. The purchase price was not announced. The share transfer is scheduled for October 1, 2024.
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