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Nippon Steel acquires stake in Thai steel firm
16 August 2011: Japan based Nippon Steel Corporation acquired five per cent stake in Siam United Steel which was sold by Siam Cement Pcl.
The company acquired stake for 855 million baht ($29 million). It already owns 45 per cent of Siam United, which makes cold-rolled sheet steel, with annual capacity of 1 million tonnes. Siam Cement's divestment is part of its plan to focus on core businesses.
Source: business recorder