13
Mar
17:33
Astra increases stake in Iraqi rebar mill
Saudi Arabia’s Astra Industrial Group has increased its shareholding in Al Tanmiya for Steel Industries to 65% from 51% after cutting the Iraqi long steelmaker’s share capital by -84% to SAR 28 million ($7.5m). Astra’s joint venture partner Al-Massira International Co. has simultaneously increased its share in the Saudi mill to 28%.
The move came after Al Tanmiya’s losses crossed 100% of its share capital, reaching …
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Very good overview of the weekly steel market.
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