Hanwa Co., Ltd. announced on June 30 that it has signed an agreement with the Development Bank of Japan (DBJ) regarding the joint acquisition of all equity interests in U.S.-based Associated Steel Group (ASG). The company also decided to increase the capital of its consolidated subsidiary, Hanwa American.
Through ASG, Hanwa aims not only to strengthen its downstream business areas, but also to build and reinforce a supply chain covering the entire steel value chain, including upstream sectors such as North American steel manufacturers, in order to maximize synergy effects.
