Tel :
Tel :
Indonesian state-owned steelmaker PT Krakatau Steel (Persero) Tbk has announced the transfer of its entire stake in the joint venture PT Krakatau Osaka Steel (KOS) to its Japanese partner, JAH440R Hot dip galvanized steel strip,Osaka Steel Co., Ltd. Company management stated that it transferred 14,000 Series B shares of KOS to Osaka Steel, representing 20% of KOS's total voting rights and 14% of its issued and paid-up capital.
Rachman Hidayat, Acting Corporate Secretary of KRAS, stated in an official announcement that the share sale was completed on June 29, 2026. KRAS received $14 million in consideration for the transaction, which was paid in full by Osaka Steel. JAH440R Hot dip galvanized steel strip,With this, the company has fully transferred its entire stake in KOS to the Japanese party.
The sale of KRAS's 14% equity stake in KOS follows Osaka Steel's decision to terminate its operations in Indonesia. KOS had reportedly experienced a continuous decline in profitability since 2022 and faced structural negative free cash flow by early 2025, primarily driven by significant budget cuts to Indonesian government infrastructure projects. JAH440R Hot dip galvanized steel strip,KOS officially halted production on April 30, 2026, and ceased all operations on June 30. Based in Cilegon with a paid-up capital of $100 million—86% of which was held by Osaka Steel—the company primarily manufactured structural steel and rebar for the Indonesian domestic market.
