Dongkuk Coated Metal Co., Ltd. (Dongkuk CM), South Korea's long-established steelmaker specializing in cold-rolled steel products and a key subsidiary of Dongkuk Steel, is set to expand its influence in the global steel industry.
On Tuesday, the company announced its decision to acquire a 56.6% controlling stake in Aju Steel, another South Korean company, after a board meeting. The strategic acquisition, valued at 128.5 billion won (approximately USD 96 million), marks an important step in Dongkuk CM's growth strategy and is expected to be completed by the end of the year.
The acquisition will significantly expand Dongkuk CM's production capacity, increasing its annual output by 280,000 tons, and bringing its total capacity to 1.13 million tons per year. Market experts said the expansion will make Dongkuk CM the world's largest producer of color-coated steel, consolidating its leadership in the global market and enhancing its ability to meet growing demand.
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