Posted on 19 Aug 2022
2S Metal, a Thailand cold-rolled structural steel maker, announced that it proposed to use THB 100 per share to acquire 1.5 million newly issued ordinary shares of United Steel Pipe (USP), located in middle Thailand. The total acquisition accounted for 27.27% of USP's issued and paid-up shares.
2S Metal aimed to expand its customer base and production base by this acquisition because USP owns steel manufacturing and distributing business in Samut Prakan Province. Apart from that, 2S Metal planned to increase product variety, storage, and distribution capacity in central Thailand.
If the acquisition can be approved, the transaction was expected to complete in the first quarter of 2023.
Source:Yieh
