Associated Steel Group

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.

Hanwa Co. Ltd. agreed to acquire a 50.1% membership interest in Associated Steel Group LLC, a US steel structure manufacturer, for $347 million through a joint investment with Development Bank of Japan.

Sanko Kogyo Co., Ltd. will acquire an equity interest in U.S.-based Associated Steel Group, LLC (ASG) for $347 million, with an acquisition ratio of 50.1% to 100.0%, and will consolidate ASG as a subsidiary within the current fiscal year.