Nippon Steel Acquires Majority Stakes in Thai Steelmakers
04/05/2022 - Nippon Steel has acquired majority stakes in two steelmakers in Thailand, G Steel PCL and G J PCL, the company announced Monday.
According to Reuters, the deal is worth up to US$763 million and gives Nippon Steel a 60.23% stake in G Steel and 57.60% of G J Steel, and aims to “cut its reliance on blast furnaces that use coking coal and emit carbon dioxide.”
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