Tisco, which had entered into definitive share subscription agreement on August 16, 2004 with NatSteel, has completed 100% equity acquisition in NatSteel Asia.According to a release issued to the BSE, the NatSteel's assets in Singapore, Malaysia, Thailand Vietnam, Phillipines, Australia and China (except Changzhou Wujin NatSteel) have been transferred to NatSteel Asia. The Chinese investments, which includes Southern NatSteel (Xiamen) Company and Wuxi Jingyang Metal Products Company, have been received and transferred to NatSteel Asia subject to regulatory approval. The board of NatSteel Asia has inducted Mr. B. Muthuraman, Managing Director, Tata Steel as the Chairman and Mr. Oo Soon Hee as the Managing Director. The other members inducted to the board are Dr. T Mukherjee. Dy. Managing Director (steel), Tata Steel and Mr. Koushik Chatterjee; Vice President (finance), Tata Steel, the release further added.
