05
Nov
14:06
Tata Steel agrees to divest Vietnam rolling mill
Tata Steel subsidiary NatSteel Holdings has agreed to divest its entire equity stake of 56.5% held in NatSteel Vina (NSV) to Vietnam-based company Thai Hung Trading. The SGD 7 million ($5.2m) deal is expected to be finalised in two weeks’ time.
NSV reported revenue of INR 453 crore ($64 million) in the fiscal year through March 2019. It operates a hot rolling mill in Thai Nguyen with a capacity of 200,000 tonnes/year of rebar and wire rod. Thai Hung T…
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