Jindal Saw through its step-down subsidiary, Jindal Tubular USA LLC has completed the acquisition of assets of PSL-North America LLC in Delaware, USA on August 29, 2014. This acquisition has been undertaken by virtue of an order passed by the United States Bankruptcy Court for the District of Delaware on August 15, 2014.
The company had earlier entered into an asset purchase agreement on June 16, 2014 with PSL-North America LLC for the same.
Jindal Saw is in a commanding position in India's tubular market, being the undisputed leader with a turnover in excess of Rs 7,000 crore. The business operations are highly structured with three strategic business units: large diameter pipes, seamless tubes, and DI (ductile iron) pipes. Every SBU has its own dedicated sales and marketing targets and operations.
