Tata Steel sold its assets in Southeast Asia

Tata Steel продала активы в Юго-Восточной Азии

The company TS Global Holdings (TSGH), a metallurgical unit of the Indian group Tata Steel, signed an agreement to sell 70% shares of the Chinese Corporation Hebei Iron & Steel Group (HBIS).

The transaction amount will be $327 million of Chinese will go mini-mill NatSteel in Singapore with capacity of 200 thousand tons per year and the company Tata Steel (Thailand), which unites the enterprises for the production of wire rod, reinforcing strands and coated. While 30% of the shares of TSGH will remain the property of the Indian team.

As said General Director of Tata Steel T. V., agreement with HBIS will be the first stage in the development of a broader partnership with the Chinese manufacturer.