OneSteel purchases shares of Midalia Steel
According to a statement released from Australian mill OneSteel, the company has recently signed a conditional agreement with the purpose of purchasing shares of steel merchant Midalia Steel, which operates eleven
distribution sites in Western
Australia, against an undisclosed price. The deal is expected to be completed in February 2004.
An official from OneSteel stated that, after the completion of the turnover, the name and management of Midalia Steel will not change.
OneSteel aims to expand its product mix and services it presents to the market with this acquisition.