# Hanwa completes acquisition of 50.1% stake in Associated Steel Group for $226M

Japan's Hanwa Co. completed the acquisition of a 50.1% stake in US-based Associated Steel Group (ASG) through its North American unit Hanwa American Corp., with Development Bank of Japan acquiring the remaining 49.9%. The total investment is estimated at $226 million.

- Type: Acquisition
- Announced: 2026-08-31
- Where: Oklahoma City, Oklahoma; Batesville, Mississippi, United States
- Value: $226.0M
- Status: completed
- Products: engineered steel building solutions
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Development Bank of Japan](https://endata.com/companies/17501.md) (investor)
- [Associated Steel Group](https://endata.com/companies/92743.md) (target)
- [Hanwa](https://endata.com/companies/92791.md) (acquirer)
- [Hanwa American Corporation](https://endata.com/companies/92969.md) (acquirer)

## Sources

- [mesteel.com](https://mesteel.com/news/hanwa-completes-acquisition-of-associated-steel-group), 2026-09-03: "Hanwa Co. has completed the acquisition of US-based Associated Steel Group, LLC (ASG), making the company a consolidated subsidiary."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.