The board of directors of Crescent Steel & Allied Products Limited has approved, pending finalization of terms and conditions and the signing of an agreement, the sale of the plant, machinery, and pre-engineered building of its Crescent Hadeed (Billet) Division, which has been non-operational for the past few years, the company announced in a stock exchange filing.
The company further stated that Crescent Hadeed (Billet) Division’s operations will be classified as “discontinued.”
The billet plant includes a melt shop with two induction furnaces and a continuous casting machine, offering an annual production capacity of 85,000 tons of billets in sizes ranging from 100 to 150 mm.
Crescent Steel & Allied Products Limited operates across various sectors, including steel pipes, cotton, investments, infrastructure development (IID), and energy.
