Acerinox completes sale of Bahru Stainless in Malaysia
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Update time : 2024-12-09 19:18:06
Acerinox, Spain's largest stainless steel producer, said it has completed the sale of 100% of the share in its subsidiary Bahru Stainless Sdn. Bhd., a defunct stainless steel cold rolling plant in Malaysia, to local group Worldwide Stainless Sdn. Bhd. for US$95 million.
Unable to maintain regional competitiveness, Acerinox ceased operations at Bahru Stainless in May.
In 2023, the company produced 77,181 tons of cold-rolled products.
With plants in Spain, South Africa, and Kentucky in the US, Acerinox has a combined global smelting capacity of 3.5 million tons per year.
