# Hyundai Steel to spin off metal forming division as Hyundai Integrated Forging

Hyundai Steel will spin off its metal casting and free forging business into a new subsidiary tentatively named Hyundai Integrated Forging Co., with initial capital of 521.8 billion won, effective April 1, 2020.

- Type: Acquisition
- Announced: 2020-02-25
- Where: South Korea
- Status: announced
- Products: metal casting, free forging
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [HYUNDAI STEEL](https://endata.com/companies/45234.md)
- [Hyundai Integrated Forging Co.](https://endata.com/companies/45492.md) (target)

## Sources

- [pulse.mk.co.kr](https://pulse.mk.co.kr/news/english/9219852), 2020-02-25: "Hyundai Steel will spin off its metal casting and free forging business as a subsidiary to improve business efficiency and competitiveness."

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