Japan-based steelmaker Yamato Kogyo Co., Ltd. has announced that it has completed the acquisition of the Indonesian electric arc furnace (EAF) steelmaker PT Nussantara Baja Profil (NBP) for $358 million. Within the scope of the transaction, Yamato Kogyo will hold a 45 percent stake in the company, while its Taiwanese subsidiary Siam Yamato Steel will have a 35 percent stake.
According to the statement, the Indonesian steelmaker, which was established in August 2022, has a steel production capacity of 1 million mt per year and a rolling capacity of 900,000 mt per year.
