Nippon Steel to acquire Thailand’s Siam Tinplate as subsidiary

Thursday, 24 December 2020 13:44:40 (GMT+3)   |   Istanbul
       

Japan-based Nippon Steel Corporation has announced that it agreed to acquire shares of other existing shareholders in Thailand-based tinplate manufacturer Siam Tinplate Co. Ltd. by around February, 2021. Following the acquisition, Siam Tinplate will be the Thai subsidiary of the company and Nippon Steel will have approximately 90 percent stake in Siam Tinplate, with the remaining 10 percent belonging to Thai shareholders.

Siam Tinplate has a production capacity of 140,000 mt of tinplate and 120,000 mt of tin free steel per year. Thailand is a base for food can exports to many countries, and the demand for tinplate is expected to continue.

Nippon Steel started investments toward company in 1990, it has supplied tinplate and tin free steels for customers as manufacturing and sales base in Thailand.


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