 "New Zealand-based steel firm to buy Tata Steel unit for $24 mn")
Steel products manufacturer Steel & Tube Holdings has agreed to acquire New Zealand-based Tata Steel International Australasia, a division of Tata Steel Group, for 27.5 million New Zealand dollars (approx $24 million), the latter said in a release today.
The purchase of the business unit is expected to be completed on April 14, said Tata Steel.
Tata Steel International Australasia is the leading supplier of stainless steel, engineering steels, and composite floor decks to the New Zealand and Pacific Island markets.
The division also offers ex-mill sales of colour coated and packaging steels, railway tracks, and structural sections, said Tata Steel.