Tata International Metals Americas, a division of Tata International Ltd, today said it will acquire US-based Totem Steel International's steel trading business.
The company has not disclosed the size of the deal.
Effective February 1, Totem Steel will be continuing its operations as Tata International Metals Americas, a company statement said here.
Totem Steel International is a steel and forest products trading company located in Portland, Oregon. Totem's primary business is trading and distribution of flat rolled steel products.
The majority of Totem's sales are to end user customers in the US and Canada who manufacture residential HVAC products, metal buildings, carports, garage doors, entry doors, metal furniture, steel shelving, steel drums, and coil tubing for the energy sector.
"The expertise of JR Meyers and Totem Steel represent a unique aspect of the steel trading business we are proud to add to our portfolio," Tata International Metals Americas President Murat Askin said.
"It will be a pleasure growing our business together," he said.
"My biggest excitement about this relationship is the opportunity to take our operation to the global level beyond what we can achieve on our own. Our partnership with Tata will build on our already impressive growth with the help of their tremendous reach and resources," says JR Meyers, Totem's founder and owner, of the partnership.
Tata International is a global trading and distribution company, with a network of offices and subsidiaries spanning more than 39 countries in Africa, Asia, Europe and the Americas. Tata International's Metals Trading division is supported by global sourcing, deep market knowledge and supply chain management of various steel and related products, serving customers across 50 countries.
In addition to Tata International's extensive multi-industrial distribution system, key metal products offered include all forms and grades of steel products, metallics, steel making rolls, products for the aluminum industry, customized engineering products, and module mounting systems for the solar industry.
Tata International Metals Americas is headquartered in Schaumburg, Illinois.
