Don’t miss the latest developments in business and finance.

Tata Steel to acquire certain assets of Stork Ferro and Mineral Industries

Image
Capital Market
Last Updated : Mar 30 2022 | 8:16 PM IST

For consideration of Rs 155 crore

Tata Steel has today, i.e. 30 March 2022 executed an Asset Transfer Agreement with Stork Ferro and Mineral Industries (SFML) for acquisition of itemized assets to produce ferro alloys for a consideration of Rs 155 crore.

The asset acquisition will provide an inorganic growth opportunity for Tata Steel to augment its Ferro alloys processing capacities.

SFML has two 16.5 MVA furnaces with annual production capacity of ~53 Ktpa located at Balasore, Odisha

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Mar 30 2022 | 8:02 PM IST

Next Story