Nexteel Acquires 50% Stake in U.S. Steel Pipe Company Tex-Isle
On July 22, Nexteel announced that it will acquire 39,765 new shares of Tex-Isle, Inc., a U.S. steel pipe manufacturing and distribution company, for USD 73.78 million (approximately KRW 100 billion).
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After the acquisition, Nexteel's stake will be 50.0%. The company explained that this is an investment to secure local production and distribution capabilities in the U.S. and to strengthen global business competitiveness.
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