Japan-based JFE Shoji Trade Corporation, the trading division of Japan's second-largest steelmaker JFE Holdings, has announced that it has invested in Vietnam-based steelmaker Ton Dong A by acquiring shares in the company.
According to JFE Shoji’s statement, the Vietnamese economy is steadily growing and consumption of steel products is expected to increase further in Vietnam. With the investment in Ton Dong A, JFE Shoji aims to seize the expected growth in the market and to have a business alliance in Vietnam.
Ton Dong A produces cold rolled steel and coated steel products. The company is currently expanding its production capacity and also aims to expand its export markets.