GRP Successfully Completes Investment Partnership in its Structural Steel Business
Jun 06, 2024
Jakarta [Indonesia], June 6: In a significant move signalling a new phase of growth and expansion, PT Gunung Raja Paksi Tbk ("GRP") and its affiliated company, PT Gunung Garuda ("GRD"), are pleased to announce the successful completion of the sale process involving a combined 95% stake in its subsidiary, PT Nusantara Baja Profil ("NBP"), to Yamato Kogyo Corporation ("YKC"), Siam Yamato Steel ("SYS"), and Hanwa Indonesia ("HWI"), a subsidiary of Hanwa Co., Ltd ("Hanwa"), as agreed upon in definitive agreements executed on 8 August 2023. This strategic alignment of vision and goals among all parties involved signals a new phase of growth and expansion for the companies. Alongside the successful acquisition, NBP also changes its name and identity to Garuda Yamato Steel ("GYS").
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