24
Feb
05:30
Saudi Steel Pipe takes full ownership of subsidiary
Saudi Steel Pipe Co. (SSP) has agreed to acquire the remaining 30% stake it does not own in process equipment manufacturer Titanium and Steel Manufacturing Company (TSM Arabia), Kallanish learns from the pipemaker.
SSP will buy the stake from South Korean joint venture partner TSM Tech Company for a nominal SAR 1 ($0.3). This low amount is because TSM Arabia’s losses exceeds its capital, and TSM Tech Co. could repurchase the stake within one…
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Anonymous
Very good overview of the weekly steel market.
Anonymous