27
May
01:00
NSSMC divests interests in silicon wafer producer Sumco
Japan’s Nippon Steel and Sumitomo Metal Corporation (NSSMC) tells Kallanish that it has divested interest in Sumco, the world’s second-largest silicon wafer producer. This has generated a profit of around JPY 33 billion ($271 million) from the exercise of put options and the further sale of ordinary shares, the steelmaker says.
The move marks a divestment by NSSMC of non-core subsidiaries. Sumco was formed as a joint venture between Sumitomo Meta…
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Very good overview of the weekly steel market.
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