22
Apr
01:00
Tata Steel could be eyeing takeover of bar/rod producer Electrosteel Steel
Tata Steel could be mulling a takeover of 2.5 million tonnes/year blast furnace-based Indian rebar, wire rod and ductile iron pipe producer Electrosteel Steel.
Tata chose not to comment directly on recent press reports suggesting it was in talks with Electrosteel’s lenders who are looking to sell the firm. Electrosteel is reported to have debts of INR 6,000 crore ($953.5 million) after undergoing corporate debt restructuring since 2013.
“W…
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Very good overview of the weekly steel market.
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