Tata Steel divests entire equity stake in Tata Elastron S.A.

12 Jul 2017 Evaluate

Tata Steel has divested its entire equity stake in a 50% joint venture, Tata Elastron S.A. to Elastron S.A. The company had entered into sale agreement on July 10, 2017.

Besides, the company has signed a definitive sale agreement to sell its 42- and 84-inch pipe mills in Hartlepool to Liberty House Group. The sale agreement covers the 42-inch and 84-inch pipe mills, also known as the Submerged Arc Weld (SAW) mills, where about 140 employees manufacture pipeline for gas and oil projects around the world.

Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.



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