SteelAsia offers to acquire National Steel

STEELASIA Manufacturing Corp., the largest steel bar maker in the Philippines and in Southeast Asia, has formally offered to acquire National Steel Corp. (NSC) in Iligan City to convert it into its newest steel manufacturing complex.

“This will be a major step toward the development of a long overdue local steel industry which will generate new businesses and strengthen existing ones like the automotive industry, shipbuilding and repair, construction, and infrastructure that in turn will boost countryside growth and create more jobs,” Benjamin Yao, president of SteelAsia , said over the weekend.