07
Apr
12:37
Spindo secures Japanese backers
Steel Pipe Industry of Indonesia (Spindo) says it has secure investments from Japan’s JFE Steel and Marubeni-Itochu. The investment is a vote of confidence as the welded pipe makers restructures its debt and aims to lift production, Kallanish notes.
JFE Steel now owns 1.46% of Spindo, while Marubeni-Itochu owns 0.73%. Spindo says the investment means it can more easily secure coils from the two Japanese firms, as long as the price is right. It ha…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous