Lion Industries to acquire Megasteel assets and pay off its debts

KUALA LUMPUR: Lion Industries Corp Bhd has entered into a preliminary agreement to acquire the assets of Megasteel Sdn Bhd and pay off its debts.

“With the recovery of steel prices across the globe, the Lion Industries group may be able to expand its steel manufacturing operation from long products to include flat products,” it said in a filing with Bursa Malaysia today.