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Home >Companies >JSW Steel to buy US-based Acero Junction for $81 million

JSW Steel Ltd said on Thursday that it has agreed to buy Acero Junction Holdings for $80.85 million, as it looks to expand its operations in the United States.

JSW Steel entered into a stock purchase agreement on Wednesday with JSM International Ltd, Acero Junction Holdings Inc. and Acero Junction Inc. for the acquisition, the steelmaker said in a statement.

The deal comes shortly after the steelmaker’s US unit signed an agreement on Monday with the Texas governor’s office to invest $500 million to build out its operations in Texas, amid heightened global trade tensions following U.S President Donald Trump’s decision to pursue steep import tariffs.

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