---
title: "Eneco Energy will acquire Fastweld, a company under its major shareholder UnionSteel. | Lianhe Zaobao"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284232314.md"
description: "Eneco Energy, through its wholly-owned subsidiary Eneco Singapore, has signed an agreement to acquire 100% equity of Fastweld Engineering Construction, a subsidiary of UnionSteel, for 4.3 million yuan, aiming to achieve business diversification. This transaction is a related party transaction, and Eneco Energy will hold a special shareholders' meeting"
datetime: "2026-04-27T14:07:20.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284232314.md)
  - [en](https://longbridge.com/en/news/284232314.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284232314.md)
---

# Eneco Energy will acquire Fastweld, a company under its major shareholder UnionSteel. | Lianhe Zaobao

The listed logistics company Eneco Energy has signed a sales agreement through its wholly-owned subsidiary to acquire 100% of the equity of Fastweld Engineering Construction, an engineering contractor under Union Steel Holdings, for 4.3 million yuan, in order to diversify the group's business.

Eneco Energy announced on Monday evening (April 27) that its wholly-owned subsidiary Eneco Singapore signed a sales agreement on April 24 with Union Engineering, a wholly-owned subsidiary of Union Steel, to acquire 100% of Fastweld Engineering Construction.

Both Eneco Energy and Union Steel are listed companies on the main board of the Singapore Exchange, and Union Steel is also one of the major shareholders of Eneco Energy. Fastweld is a wholly-owned subsidiary of Union Engineering, which is a wholly-owned subsidiary of Union Steel.

#### Further Reading

Union Steel acquires 29.4% stake in Eneco Energy for 7.48 million yuan

As this is a related party transaction and a significant transaction, Eneco Energy will hold a special shareholders' meeting to seek shareholder approval for this transaction.

Eneco Energy's stock price closed flat at 0.9 cents on Monday, while Union Steel's stock price closed flat at 0.495 yuan

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