31
Oct
10:26
Tata Steel Sponge Iron to acquire Usha Martin
Tata Steel has agreed to let its subsidiary Tata Steel Sponge Iron (TSIL) acquire Usha Martin (UML) in order to add shareholder value and exploit robust long steel demand in India. The move will see merchant direct reduced iron producer TSIL enter crude steelmaking.
Tata Steel agreed to acquire UML in September for $595-650 million, with the transaction expected to be completed by end-March-2019 (see Kallanish passim). Last month Tata decided to conduct the acqu…
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Anonymous
Very good overview of the weekly steel market.
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