In a crescendo of corporate strategy, Hanwa steps onto the stage, announcing an orchestration that resonates with the harmonies of August 8, 2023, with a resolution to acquire shares of a nascent EAF steel manufacturer in Indonesia.The composition of this transaction is multifaceted. Hanwa unveiled the decision for PT Hanwa Indonesia, a subsidiary, to assume the role of share acquirer. This endeavor finds its form as PT Gunung Raja Paksi, a notable local electric furnace steel manufacturer listed at Indonesia Stock Exchange, and its affiliate PT Gunung Garuda, prepare to transfer their structural section steel enterprise to the newborn entity PT Nusantara Baja Profil. This acquisition is set against the backdrop of Q1 of 2024..Hanwa's partnership in this endeavor extends to Yamato Kogyo, a Japanese virtuoso in the realm of EAF steel manufacturing, and its Thai counterpart, Siam Yamato Steel. Together, they shall hold a collective 15% of PT Nusantara Baja Profil 's shares.Under the leadership of Mr. Abednedju Giovano Warani Sangkaeng, the President Director, PT Nusantara Baja Profil o dedicates itself to the manufacturing and sale of steel products, with an annual production capacity of 1 million metric tons of steelmaking and 900,000 metric tons of rolling.The grand score reveals Yamato Kogyo as the primary custodian of 45.0% of NewCo's shares, while Siam Yamato Steel claims a harmonious 35.0%. The climax is reached as the crescendo of Hanwa's presence takes form, with a confident 15.0% shareholding, and the note of PT Gunung Raja Paksi adds its resonance with a 5.0% cadence.