Mitsubishi Steel Mfg. Co., Ltd. completed the acquisition of additional 20.8% stake in PT. Jatim Taman Steel Mfg.
January 28, 2018
Share
Mitsubishi Steel Mfg. Co., Ltd. (TSE:5632) agreed to acquire additional 20.8% stake in PT. Jatim Taman Steel Mfg for approximately IDR 370 billion ($27.5 million) on December 27, 2017. As per the transaction, Mitsubishi Steel Mfg. Co., Ltd. will acquire additional 0.33 million shares. Post completion, Mitsubishi Steel Mfg. Co., Ltd. will hold 56.2% stake in PT. Jatim Taman Steel Mfg. For the year ended December 31, 2016, PT. Jatim Taman Steel Mfg reported total assets of IDR 1.5 trillion, net assets of IDR 548.1 billion, revenue of IDR 150.7 billion, operating loss of IDR 76.6 billion and net loss of IDR 182.1 billion. The transaction is expected to complete on January 29, 2018.
Mitsubishi Steel Mfg. Co., Ltd. (TSE:5632) completed the acquisition of additional 20.8% stake in PT. Jatim Taman Steel Mfg on January 29, 2018.
Mitsubishi Steel Mfg. Co Ltd is a Japan-based company principally engaged in the manufacture and sale of speciality steel products, springs, fabricated materials and equipment. The Company operates through four segments. The Specialty Steel Products segment manufactures and sells speciality steel products such as carbon steel, low alloy steel, spring steel, and bearing steel. The Spring segment manufactures and sells coil springs, stabilizers, leaf springs, and coiled wave springs. The Fabricated Materials segment is engaged in the manufacture and sale of special alloy powders, fine powders, precision castings, and cast steel products. The Equipment and Device segment manufactures and sells forging machines, industrial machinery, steel structures, and environmental recycling equipment. The Company is also engaged in marine transportation, truck transportation, and warehousing businesses.
MITSUBISHI STEEL MFG. CO., LTD. 
