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Sakarian Steel Industries
Sakarian Steel Industries was formed in 1967 with the merger of numerous Sakarian steelworks, nationalized under the Sakarian government as part of an effort to better their economy. They had a monopoly of the steel industry in Sakaria and surrounding countries for decades, until their rivals British Steel and China Baowu Steel Group entered the market.
They eventually stayed afloat from winning government contracts with United El Kadsre Nations until 2001, when their own steelworks won the contract, and by exporting their steel to many hardware companies and contract manufacturers to home appliances.
Due to severe financial losses and issues for the last decade, the Government of Sakaria had announced plans to sell Sakarian Steel around the spring of 2018. Bidders included Tata Steel, Qualis, the Matsushita family (known for El TV Kadsre), ThyssenKrupp and, to much confusion initially, Amazon.com.
When the sale to CPN Holdings was completed in December 2019, it was the world's third largest steel producer by volume, surpassing Nippon Steel but still close behind China Baowu Steel Group, who was the second largest, thanks to revitalization efforts by CPN Holdings (going by Qualis at the start of the negotiations) and the Sakarian government agencies related to exports.
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