JSW to weigh acquisition of plate and pipe mill in US
21 Aug 2007
Mumbai: JSW Steel Ltd, which is in the midst of a Rs17,100 crore expansion in India, is also eyeing value-added facilities abroad. The JSW board will meet on August 21 to consider the purchase of plate and pipe mills in the United States, the company said, amid talk it was eyeing units owned by Jindal Saw affiliates.
Reports, meanwhile, said JSW has completed the due diligence of plate and pipe mills owned by its US affiliates.
Jindal Saw converts steel into pipes and it makes sense to sell its interest in the mills, reports quoted company officials as saying. The demand for pipes is expected to grow in the next 6-7 years.