JAKARTA (TheInsiderStories) - JFE Steel Corporation and Marubeni-Ithocu Steel Inc. (MISI) announced that they have acquired a combined 2.2 percent of the outstading shares in PT Steel Pipe Industry Indonesia Tbk (SPINDO), a pipe manufactures and steel processor in Indonesia. In detailed, JFE Steel holds a 1.46 percent shares and MISI owns 0,73%. The three parties expects to increase sales and market shares in Indonesia, as well as to expand its acces to stable supplies of steel. Established in 1971, SPINDO processes and sells approximately 350,00 tons of pipe and thin steel annually for uses including motorcycle parts and construction materials.
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