Taiwan’s China Steel Corporation (CSC) announced that its subsidiary, Himag Magnetic Corporation, will absorb its wholly-owned unit, MagnPower Corporation.

Scheduled for May 1, 2026, this internal restructuring aims to streamline management costs and optimize the group’s investment framework.

As the surviving entity, Himag Magnetic, specializing in magnetic materials and iron oxide, will assume all assets, liabilities, and legal obligations of MagnPower, a powder metallurgy firm.

CSC said that this merger is a simple reorganization within the group and carries no significant impact on shareholder interests. Both chairmen maintain the authority to adjust the merger date if necessary, ensuring a smooth transition of operations and rights.