Tata Steel acquires ferro alloy company for Rs101 crore

Tata Steel acquires ferro alloy company for Rs101 crore
PTI
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First Published: Thu, Mar 08 2007. 07 07 PM IST
Updated: Thu, Mar 08 2007. 07 07 PM IST
Kolkata: Tata Steel on 8 March 2007 said it has signed an agreement for acquiring 100% stake in Rawmet Industries Private Ltd, a city-based ferro alloy company, at an enterprise value of Rs101 crore.
A company statement said that Rawnet has a ferro alloy plant near Cuttack, consisting of two semi-closed electric arc furnaces having a capacity of around 50,000 tonnes of high carbon ferro chrome per year.
The Board of Rawmet has been reconstituted with four out of five positions going to Tata Steel.
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First Published: Thu, Mar 08 2007. 07 07 PM IST
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