01
Apr
01:00
Tata Steel sells Sri Lankan steel wire unit
Tata Steel has divested its entire stake in Lanka Special Steels (LSSL) to E.B. Crease & Company in an all cash deal worth LKR 433 million ($3.26m), Kallanish learns from the Indian steelmaker.
Sri Lanka-based LSSL was a wholly-owned Tata Steel subsidiary producing up to 14,400 tonnes/year of hot-dip galvanized steel wire and nail wire. It was incorporated in 2003 out of Tata Steel’s first overseas acquisition. LSSL’s product mix of GI wires …
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Very good overview of the weekly steel market.
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