# TISCO to acquire 51% stake in Shandong Xinhai Industrial

Shanxi Taigang Stainless Steel (TISCO) will invest 392.7 million yuan to acquire a 51% stake in Shandong Xinhai Industrial, forming a joint venture with Linyi Xinhai New Material to produce 300-series stainless steel.

- Type: Acquisition
- Announced: 2022-04-17
- Where: Shandong, China, China
- Value: $58.0M (392.7M CNY)
- Status: announced
- Products: 300-series stainless steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Shanxi Taigang Stainless Steel](https://endata.com/companies/48088.md) (acquirer)
- [Shandong Xinhai Industrial](https://endata.com/companies/62338.md) (target)
- [Linyi Xinhai New Material](https://endata.com/companies/62339.md) (partner)

## Sources

- [news.smm.cn](https://news.smm.cn/news/101807193), 2022-04-18: "此次增资完成后，公司持有鑫海实业51%股权，鑫海新材料持有鑫海实业49%股权。"

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