SeAH Changwon Special Steel Enters U.S. Special Alloy Materials Market

by Hwang Yoonju

Published 16 May.2024 14:26(KST)

Acquisition of Shares Worth 148.6 Billion KRW

SeAH Changwon Special Steel announced on the 16th that it will acquire 100% of the shares of SeAH Superalloy Technologies, LLC to enter the U.S. special alloy materials market.

The acquisition amount is KRW 148.6159 billion, which accounts for 16.24% of the company's equity. The scheduled acquisition date is June 30, 2026.

The company explained, "SeAH Changwon Special Steel plans to invest by acquiring redeemable convertible preferred shares (RCPS) of SeAH Superalloy Technologies, LLC in installments until June 2026."