Corporate Actions to Watch

State-owned steel producer Krakatau Steel (KRAS) partners with Sango Corporation for developing wire rod-based steel for automotive component industry with investment cost of US$95 million. Currently Indonesia imports 150,000 tons of wire rod for automotive component. As such, KRAS-Sango’s partnership could save the state US$24 million per year. KRAS will supply wire rod to Sango’s factory in Karawang, West Java, to be processed into automotive component with capacity of 40,000 tons per year.

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