Japan's JFE, Marubeni acquire small stakes in Indonesia's Spindo

Japan's JFE Steel and Marubeni-Itochu Steel have acquired small stakes in Indonesia’s largest tube & pipe manufacturer, Steel Pipe Industry of Indonesia (Spindo)..

JFE Steel bought a 1.48% share in Spindo, while Marubeni-Itochu Steel purchased a 0.73% participation, the two Japanese companies said on Thursday March 30
No value for the acquisitions was disclosed by the companies.
All three companies will benefit from the equity partnerships, JFE Steel said.

It said Spindo expects to...

Published

Juan Weik

March 30, 2017

14:01 GMT

Singapore