Arkan Building Materials Company (ARKAN) PJSC (ADX:EMSTEEL) may submit a formal offer to acquire a stake in the steel unit of German industrial group, Bloomberg reported on April 26, 2023, citing unnamed sources. Reportedly, Emirates Steel Arkan is discussing the option to buy a minority stake as part of a collaboration. Under the potential partnership, the Abu Dhabi-based company would make energy-intensive products in the United Arab Emirates, after which Thyssenkrupp would give them the final touch in Germany, turning them into finished products for the automotive industry.
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May. 08 | Ensteel Building Materials PJSC Reports Earnings Results for the First Quarter Ended March 31, 2024 | CI |
May. 08 | UAE-based Emsteel Building Materials Reports Lower Q1 Profit, Revenue | MT |
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- Emirates Steel Arkan Reportedly Considers Investing in Thyssenkrupp's Steel Unit