Dongkuk Coated Metal Co. (Dongkuk CM), the cold rolled steel production subsidiary of South Korean steelmaker Dongkuk Steel, has agreed to acquire fellow South Korean color coated steel producer Aju Steel Co. for KRW 128.5 billion ($93.4 million), according to local media reports.
Following the transaction, which is expected to be completed in December this year, Dongkuk CM will become the world’s largest color coated steel producer with a production capacity of 1.23 million mt per year, increasing its domestic market share to 34.4 percent from 29.7 percent.
With its production capacity of 280,000 mt per year, Aju Steel is the fourth largest color coated steel producer in South Korea.
