Worldwide Stainless buys Bahru Stainless from Spain-based Acerinox for RM408mil

Worldwide Stainless CEO Danny Tan Wei Beoh (left) and Acerinox S.A general counsel and secretary of the board Luis Gimeno (right).

KUALA LUMPUR: Worldwide Stainless Sdn Bhd has reached an agreement with Spain-based stainless steel leader Acerinox SA to acquire Bahru Stainless Sdn Bhd for a total consideration of US$95 million or RM407.55 million.

The company said this acquisition marks a significant step in strengthening Malaysia’s position within the global stainless steel industry.