Worldwide Stainless revives Bahru Stainless with US$95m acquisition
17 Dec 2024
Worldwide Stainless Sdn Bhd has revitalised Malaysia’s stainless steel industry with its US$95 million (RM424.4 million) acquisition of Bahru Stainless Sdn Bhd.
The reopening of this iconic Pasir Gudang facility not only restores operations but positions Malaysia as a key player in the global stainless steel market.
“This acquisition is more than a restart. It’s a transformation,” said CEO Danny Tan. “We are combining innovation, sustainability, and efficiency to create a future-ready plant that meets global standards.”
Worldwide Stainless is implementing a streamlined production process to enhance efficiency and sustainability. This strategy aligns with its goal to make Bahru Stainless a leader in cold-rolled stainless steel manufacturing.
The plant’s annual capacity of 300,000 metric tons will be ramped up gradually, ensuring operational stability and quality consistency.
Tan explained, “This is not just a cosmetic overhaul. We’re investing in workforce upskilling and adopting innovative technologies to secure long-term growth. Bahru Stainless is set to be a global benchmark of excellence.”
The plant has rehired 90% of its retrenched workforce, reinstating skilled professionals with decades of expertise.
This rehiring underscores the company’s commitment to retaining talent and ensuring continuity in operations. Worldwide Stainless is focused on balancing domestic and international market demands.
As Malaysia’s sole producer of cold-rolled stainless steel, the company will support local industries, including construction, automotive, and manufacturing. Globally, it aims to penetrate high-growth markets in Europe, the US, and emerging regions.
“Our dual strategy ensures we contribute to Malaysia’s economy while expanding our footprint internationally,” said Tan. “We’re delivering quality products to meet the demands of diverse industries.”
The company is also diversifying its portfolio to include high-value sectors such as renewable energy, medical equipment, and advanced manufacturing. This strategic move positions Bahru Stainless to address the evolving needs of modern markets while enhancing its competitive edge.
The company is integrating eco-friendly practices into operations while fostering strategic alliances to promote Malaysia’s industrial capabilities on a global stage.
Participation in international trade exhibitions and collaborations with key players are paving the way for Bahru Stainless to become a symbol of reliability and innovation.
“We are committed to elevating Malaysia’s position in the global market,” said Tan. “Through quality, sustainability, and innovation, we aim to set new benchmarks in the stainless steel industry.”
Backed by AmBank Group, which financed 80% of the acquisition, Worldwide Stainless’ leadership team brings decades of expertise to this ambitious venture.
Their vision ensures Bahru Stainless’ resurgence as a symbol of Malaysia’s industrial prowess.
Source: The Sun
