Dongkuk Coated Metal Co. (Dongkuk CM), the cold rolled steel production subsidiary of South Korean steelmaker Dongkuk Steel, has completed the acquisition of South Korean color coated steel producer Aju Steel Co., according to local media reports. The acquisition has increased Dongkuk CM’s domestic market share to 34.4 percent from 29.7 percent and its annual production capacity to 1.23 million mt.
With the completion of the acquisition process, Dongkuk CM plans to complete the incorporation of Aju Steel as a subsidiary by applying for affiliate inclusion with the Fair Trade Commission. Dongkuk CM plans to focus on improving the financial soundness of Aju Steel.
Aju Steel has an annual production capacity of 280,000 mt.