Japan-based scrap exporter Nansei Steel has announced its plans to acquire Malaysian EAF-based steelmaker Pomina II Steel Works in July 2026 for about JPY 3.2 billion ($21.34 million).
Within the scope of a production contract inked by the two companies, the Japanese exporter will pay a fixed processing fee of about JPY 900 million ($6 million) per year for two years from July this year, undertaking local steel production at the plant during the period. Following the expiration of the contract period, Nansei Steel will be able to acquire the Malaysian steelmaker.
