Worldwide Stainless acquires Bahru Stainless for US$95 million

KUALA LUMPUR: Worldwide Stainless Sdn Bhd (WSSB) has reached an agreement to acquire Bahru Stainless Sdn Bhd (BSSB) from Spain-based stainless steel l...

Worldwide Stainless Sdn Bhd has reached an agreement to acquire Bahru Stainless Sdn Bhd from Spain-based stainless steel leader Acerinox S.A. for US$95 million .

Under the leadership of CEO Danny Tan Wei Beoh, the company plans to restart operations and rehire nearly 90% of BSSB’s retrenched workforce, restoring the expertise that built the plant’s solid reputation.Emphasising the importance of this acquisition, Tan said “this acquisition is a commitment to the future of Malaysia’s stainless steel industry.

“Our plan to rehire close to 90% of the previous employees reflects our belief in the workforce’s expertise and the operation’s future success,“ he said. The company’s vision is to rebuild, innovate, and supply high-quality stainless steel to local and international markets.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

theSundaily /  🏆 25. in MY

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Orkim terima kontrak sewa khas kapal daripada ShellOrkim Sdn. Bhd. (Orkim) menandatangi perjanjian sewa khas jangka panjang dengan Shell Malaysia Trading Sdn. Bhd. dan Shell Timur Sdn. Bhd.
Read more »

[Video] Driver Iswara Biru Ditahan Lepas Memandu Secara Berbahaya Di Johor BahruPemandu itu ditahan di hadapan Ibu Pejabat Polis Daerah (IPD) Johor Bahru Utara pada jam 4.42 petang semalam (14 Oktober).
Read more »

Pollution in Johor Bahru, Kota Tinggi: Action to be taken against factoryJOHOR BAHRU: Action will be taken against the factory that caused odour pollution here and in Kota Tinggi last month, said Johor Health and Environmen...
Read more »

Keluarga tunai hajat bekas Gabenor Bank Negara kebumi di Johor BahruKeluarga tunai hajat bekas Gabenor Bank Negara kebumi di Johor Bahru
Read more »

55% of Singaporeans Would Move to Johor Bahru for a Lower Cost of LivingA recent poll by The Independent SG revealed that 55% of Singaporeans would consider relocating to Johor Bahru, Malaysia, to escape the high cost of living in Singapore. Many Singaporeans already reside in Johor Bahru while working in Singapore, taking advantage of the significantly lower expenses.
Read more »

GISBH Holdings Sdn Bhd Faces Legal Action For Failing To Pay ZakatKepincangan GlSB Holdings Sdn Bhd (GISBH) faces legal action for failing to pay zakat. The Selangor Islamic Religious Council (LZS) revealed that over 20 companies linked to GISBH haven't paid their zakat, and LZS is unable to determine the amount owed due to a lack of information regarding the company's assets and liabilities.
Read more »