Notice of Completion of the Partially Acquisition of the Shares of the Newly Established Electric Furnace Steel Manufacturer in Indonesia
Hanwa Co., Ltd. (“Hanwa”) hereby announces that our consolidated subsidiary, PT Hanwa Indonesia has completed the acquisition of the shares of PT Nussantara Baja Profil (“NBP”), which is announced in “Notice Concerning Partially Acquisition of the Shares of the Newly Established Electric Furnace Steel Manufacturer in Indonesia” on August 8, 2023. In addition, we would like to inform you that NBP will change its name to PT Garuda Yamato Steel
(“GYS”) as of today.
1. Overview of GYS
| (1) Name | PT Garuda Yamato Steel (Formerly known as “PT Nusantara Baja Profil”) |
| (2) Location | Jl. Perjuangan No. 8, Sukadanau, Cikarang Barat Bekasi 17530, West Java, INDONESIA |
| (3) Job title and name of representative |
Tony Taniwan, President Director |
| (4) Description of business | Manufacture and sale of steel products Annual production capacity: 1 million tons for steelmaking / 900 thousand tons for rolling |
| (5) Share capital | US$4.24 million |
| (6) Date of establishment | August, 2022 |
| (7) Shareholding ratios after the acquisition |
Yamato Kogyo Co., Ltd. 45.0% Siam Yamato Steel Co., Ltd. 35.0% PT Hanwa Indonesia 15.0% PT Gunung Raja Paksi Tbk 5.0% |
2. Future outlook
The completion of the investment will not impact the forecasts of consolidated financial results for the fiscal year ending March 31, 2025, which was previously announced on May 10, 2024.
For further information, please contact:
Hanwa Co., Ltd. Tokyo Headquarters
Secretarial Dept. Public Relations Sect.
+81-3-3544-2000
