Kyoei Steel completed the acquisition of AltaSteel for $139m.

Kyoei Steel, a material recycling business services provider, completed the acquisition of AltaSteel, a manufacturer and recycler of steel, from American Industrial Partners, a private equity firm for $139m. With steel demand expected to decline in Japan, Kyoei Steel looked to secure its overseas steel business as part of its growth strategy, and so far has conducted business in the US and Vietnam. AltaSteel will work alongside Vinton Steel, which Kyoei Steel acquired in 2016 to expand their business further.