Japan group to jointly buy Vietnam steel pipe firm 

Last updated: 11/16/2010 15:00 

Japan’s JFE Steel, Maruichi Steel Tube and Toyota Tsusho said on Monday they will jointly buy the Vietnamese spiral steel pipe unit of South Korea’s Jeong An Steel for about 18 billion won (US$16 million).

JFE Steel and Maruichi will each hold 35 percent of the Vietnamese firm, Jeong An Vina Co Ltd, while Toyota Tsusho, a metals-focused trading firm affiliated with Toyota Motor Corp, will hold the rest, they said in a statement.

JFE Steel is a unit of JFE Holdings.

With the acquisition, the three Japanese firms will start making steel pipe pile and steel pipe sheet pile in Vietnam and aim to take advantage of growing demand for construction steel pipe in Southeast Asia, especially Vietnam, they said.

A JFE official will replace the current president of Jeong An Vina, the companies said.

Jeong An Vina has an annual capacity of 50,000 tons and booked revenues totaling $10.9 million in the 2009 financial years, the companies said.

Source: Reuters

outdoor advertising viet nam, outdoor advertising Vietnam, outdoor Vietnam, Billboard, Panô ngoài trời, advertising Vietnam, outdoor advertising agency Vietnam, OOH Vietnam, Bussiness Vietnam, Ben Thanh Market, Vietnam daily news, Advertising, Vietnam, business blog, advertising blog, nice blog, professional blog, quảng cáo ngoài trời, outdoor agency, quảng cáo ngoài trời giá rẻ, quảng cáo chuyên nghiệp, cần tìm vị trí quảng cáo ngoài trời, quảng cáo ngoài trời chuyên nghiệp, quảng cáo ngoài trời Đà Nẵng, quảng cáo ngoài trời Huế, quảng cáo ngoài trời sông Hàn