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Malaysia’s Worldwide Stainless to acquire Bahru Stainless from Acerinox for US$95 million

Tan Ai Leng

Tan Ai Leng

Published Wed, Oct 16, 2024 · 04:43 PM
    • Worldwide Stainless CEO Danny Tan (left) and Acerinox general counsel and board secretary Luis Gimeno, at the share sale agreement signing ceremony.
    • Bahru Stainless, which is located in Pasir Gudang in Johor, is Malaysia’s sole producer of cold-rolled stainless steel.
    • Worldwide Stainless CEO Danny Tan (left) and Acerinox general counsel and board secretary Luis Gimeno, at the share sale agreement signing ceremony. PHOTO: WORLDWIDE STAINLESS
    • Bahru Stainless, which is located in Pasir Gudang in Johor, is Malaysia’s sole producer of cold-rolled stainless steel. PHOTO: ACERINOX

    [KUALA LUMPUR] SPANISH stainless steel producer Acerinox has signed an agreement to sell its subsidiary Bahru Stainless to Malaysia-based Worldwide Stainless for US$95 million.

    Bahru Stainless, which is located in Pasir Gudang in Johor, is Malaysia’s sole producer of cold-rolled stainless steel.

    According to Acerinox’s website, it is one of the most technologically advanced stainless steel production plants in South-east Asia, producing 77,181 tonnes of cold-rolled stainless products in 2023.

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