Kobe Steel sells an iron plant to Lion Diversified
According to recent news in the market, Malaysian steel producer Lion Diversified has recently signed a deal with Kobe Steel to buy an iron plant from the Japanese steel producer for MYR 309.6 million ($81.4 million). Moreover, Lion will pay MYR 24.7 million to Kobe for technical know-how called Midrex Process that will be used in the plant. The plant, which produces hot direct reduced iron and hot briquetted iron (HBI), has an annual production capacity of 1.54 million tons.