Yieh Phui Enterprise Co., Ltd. (Yieh Phui), a leading coating steel producer in Taiwan, announced it will increase its stake in Yieh United Steel Corp. (Yusco) from 25.82% to 34.05% through a private placement. The investment totals NT$2.52 billion (420 million shares at NT$6 each).

Yieh Phui's Vice President, Wen-Chung Tien, said that the funds are used to improve Yusco’s financial structure and fund equipment modernization projects. These upgrades include high-efficiency, energy-saving electric furnaces and hot-rolled production line improvements.

These projects are to secure a stable supply of low-carbon materials for Yieh Phui, enhance Yusco’s profitability, and contribute to Yieh Phui's investment income. This increased cooperation will also support both companies' goals to meet net-zero carbon emission targets by 2050.