Astra Industrial Group of KSA announced completing all legal procedures on November 24th 2009 regarding the takeover of 51% of Al Tanmia for Steel Industry after being approved by the general assembly's regular meeting on September 14th 2009.

On July 26th 2009, the Group had received the approval of Al Massira International Company for the preliminary takeover offer with regard to 51% of Al Tanmia for Steel Industry.

In October, Astra announced that it had acquired the approval of shareholders on the SAR 225 million offer.

Al Massira owns Al Tanmia for Steel Industry, which is currently constructing in al Zubair, Basra governorate, a semi integrated mill, melt shop and rolling mill with capacities reaching 450,000 tonnes of billets and 350,000 tonnes of rebar at operation in the end of 2010 and occupying an area of 500,000 squire miter.

(Sourced from Arab Steel)