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Saudi Steel Agrees to Start Venture With South Korea’s TSM Tech

Aug. 28 (Bloomberg) -- Saudi Steel Pipe Co., a manufacturer of welded pipes, said it agreed to start a new titanium and steel company with South Korea’s TSM Tech Co. with production from a plant to start in 2012.

Saudi Steel Pipe will hold a 70 percent stake in the venture, according to a company statement on the Saudi bourse website today.

Link to Company News:{066350 KS <Equity> CN <GO>} Link to Company News:{SSP AB <Equity> CN <GO>}

To contact the reporter on this story: Glen Carey in Riyadh at gcarey8@bloomberg.net

To contact the editor responsible for this story: Glen Carey at gcarey8@bloomberg.net

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