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Stock Report
Tata Steel enters into Share Purchase Agreement with Rawmet Ferrous Industries
Posted On : 2007-01-15 09:14:51( TIMEZONE : IST )
Tata Steel Ltd has announced that the Company has entered into a Definitive Agreement to acquire 100% equity stake in Rawmet Ferrous Industries Pvt Ltd., a Company having registered office at Kolkata and Ferro Alloy Plant near Cuttack consisting of two 16.5 MVA semi closed electric arc furnace having a capacity of producing around 50,000 tonnes of high carbon ferro chrome per annum. The agreement was signed at Bhubaneswar by the Company and the representatives of IMR Metallurgical Resources AG which holds 66.46% equity stake, Rawmet Commodities Pvt Ltd which holds 12.48% equity stake and other shareholders of the said Company.
On conclusion of the above transaction, the Board of Rawmet Ferrous Industries Pvt Ltd will be reconstituted to include representatives of the Company.
