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JSW Steel board to mull US buyout on 21 August

JSW Steel board to mull US buyout on 21 August
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First Published: Mon, Aug 20 2007. 10 25 AM IST
Updated: Mon, Aug 20 2007. 10 25 AM IST
Reuters
Mumbai: JSW Steel Ltd said on Monday, 20 August, its board would meet on 21 August to consider buying a plate mill, double joining & coating, and pipe mill facility in the United States.
Last month, its top official said it was in talks to buy a steel plate company estimated to be about $1.2 billion with a steel mill capacity of 1.5 million tonnes.
“I cannot comment now, we will tell you tomorrow,” director Seshagiri Rao told Reuters.
He refused to comment on whether the steel plate mill owned by Jindal Saw Ltd was one of the short-listed firms being considered. JSW Steel is in the midst of a Rs171 billion (Rs17,100 crore; $4.2 billion) expansion in India.
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First Published: Mon, Aug 20 2007. 10 25 AM IST