Nippon Steel subsidiary invests in Mlion, eyes stronger Asean foothold
The Japanese steel giant hopes to leverage Mlion’s position as a market leader in the steel sheet piling sector
SINGAPORE-HEADQUARTERED foundation solutions company Mlion Corporation has received a minority investment from Nippon Steel Trading (NST), a subsidiary of Nippon Steel, as the Japanese steel giant seeks to strengthen its presence in Asean.
The move is in line with NST’s long-term goal of gaining a greater foothold in key Asean markets such as Singapore and the Philippines, Mlion said on Tuesday (Oct 1).
Mlion is a market leader in the steel sheet piling sector, distributing more than 300,000 tonnes of steel materials each year across nine offices in Asia and the Middle East. NST hopes to leverage Mlion’s position and expertise in sales and procurement to expand its reach in the region.
“The investment will help NST gain a greater market share and presence,” said Mlion.
It added that their partnership is expected to play a pivotal role in Asean’s rising demand for high-quality steel materials, driven by large-scale infrastructure projects. It will also address a growing construction market in Asia and the Middle East.
Through the partnership, NST is also looking to grow its sales across a range of products and expand its reach in high-performance offerings.
Both companies “will remain committed to delivering innovative, high-quality materials that address the evolving needs of the construction industry”, said Mlion.
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