PT Hanwa Indonesia, Siam Yamato Steel Company Limited and Yamato Kogyo Co., Ltd. agreed to acquire 95% stake in PT Nusantara Baja Profil from PT Gunung Raja Paksi Tbk for $425 million.

PT Gunung Raja Paksi Tbk is an Indonesia-based iron and steel company. The Company’s operating segments are based on the types of products consisting of steel sheets and steel bars. Its production products consist of various sizes according to international standards and include all kinds of structural parts, profiles and reinforcement rods. The Company’s flat products have various end products covering all types of hot and cold plates, hot and cold rolled coils, as well as various types of downstream plates and other coils. Its available products include Welded Beam, Cut to Shape, Beam Box, Cell Beam, Honeycomb, UNP, L-Angle, Angle (HR), Cell Form, Channel (UNP), H-Beam (HR), King Cross, Queen Cross, T-Beam, Wide Flange Beam (IWF), Equal Angle, Lipped Channel, Rectangular Hollow Section, Square Hollow Section, Unequal Angle, ERW Pipe and Expanded Mesh, and Coil Plate. The Company offers plate, steel, forming and coil services centers.