Posted in | News | Business | Minerals

Nissho Iwai to Acquire Petroleum, Carbon, Iron Ore and Coke Businesses from Nichimen

Mar 28 2002

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It was announced today that Nissho Iwai would acquire the petroleum and carbon products as well the coal and iron ore branches of Nichimen Corporation.

The acquisitions are part of a medium term strategy for growth for Nissho Iwai in which they plan to expand and capture a greater market share.

The cost of acquiring these businesses is estimated to be 7.5 billion Yen for the petroleum and carbon products division and a further 4.4 billion yen for the coal and iron ore business. The businesses to be acquired deal in petroleum products, LPG, coke, carbon products and have coke and iron ore interests as far a field as Australia, Indonesia, Russia and China.

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