06
Apr
12:48
JSW acquires Welspun unit, commissions hot strip mill
JSW Steel has completed the acquisition of Welspun’s former Plate and Coil Mill Division (PCMD) from sister company Laptev Finance. The latter agreed to buy the unit from Welspun in 2019 for INR 8.5 billion ($115.7 million).
The unit posted revenue of INR 539.8 crore ($73.5m) in the fiscal year through March 2020, down 65% on-year.
“The PCMD Business will be of strategic importance for JSW to expand its value added and special products portfolio, part…
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