Maruichi Steel Tube Ltd., a Japan’s steel manufacturer, has decided to acquire all shares of Sato Mold Steel Works, a construction steel base materials producer, from Minori No. 3 Investment Limited Partnership, managed by Basic Capital Management.

Maruichi Steel Tube said Sato Mold Steel Works has advantages in processability and cost with its high-strength products using its own technology. The products are widely used in logistics warehouses, factories, and other applications with expected strong demand in the future. The acquisition is also expected to increase Maruichi Steel Tube’s sales of surface-treated steel sheets and secure a stable supply of materials.

The acquisition price has not been disclosed. The share transfer execution date is scheduled for October 1, 2024.