Ajoo Steel

Ajoo Steel will invest 45 billion won (USD 38.08 million) in a new aluminum extrusion plant in Mexico, targeting start-up in Q4 2022, to produce trailer aluminum extrusion products.

Ajoo Steel will invest 110 billion won in the second phase of its Gimcheon plant in Gyeongsangbuk-do, South Korea, from H2 2022 to H1 2023, to increase CCL capacity from 220,000 to 300,000 tons, HMP from 1.8 million to 4.4 million units, and add a 200,000-ton CGL line.

Ajoo Steel announced it will absorb Ajoo EGL in a small-scale merger to improve management efficiency and synergy. Ajoo Steel owns 100% of Ajoo EGL, and no new shares will be issued.