05
Sep
14:47
Court approves JSW Steel's acquisition of Bhushan P&S
The National Company Law Tribunal, New Delhi, has approved JSW Steel’s Resolution Plan for insolvent flat steelmaker Bhushan Power & Steel.
Bhushan Power & Steel has a 2.3 million tonnes/year crude steelmaking capacity, with hot strip mill, cold rolling mill, galvanising plant and galvalume plant. In the fiscal year through March 2017 its revenue rose 3% on-year to INR 885,416.64 lakhs ($1.2 billion) and net loss narrowed 83% to INR 41,119.75 lakhs…
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Very good overview of the weekly steel market.
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