Tokyo Steel Manufacturing, Japan’s largest independent mini-mill, and South Korean Dongkuk Steel, which manufacturers heavy plate and construction long products, recently announced in a press release a strategic business partnership to cooperate on environmentally-friendly steelmaking technologies.
As part of the effort to improve competitiveness in their EAF businesses, it is reported that each company will receive a one percent equity stake in the other.
This is viewed as an opportunity for Dongkuk Steel to change its course from its recent $18 million loss in 2017.