Tata Steel acquires ferroalloy production assets
Views : 156
Update time : 2022-04-06 19:31:56
India’s steelmaker Tata Steel will acquire all production assets of the ferroalloy business in Stork Ferro and Mineral Industries (SFMIL), located in Odisha, Eastern India. The two companies have inked an asset transfer agreement valued at Rs 155 crore, and the acquisition was expected to be concluded within two months after the deal was signed.
SFMIL has two 16.5 MVA furnaces with an annual production capacity of 53,000 tons per year in Balasore, Odisha. This acquisition will provide Tata Steel with an inorganic growth opportunity to enlarge the company’s ferroalloy processing capacities.
Aluminium prices diverge as LME gains, SHFE declines amid rising inventories
Tariffs on Mexico finalised, SHFE aluminium weakens due to alumina drag
