JSW Steel is all set to acquire Italy-based Aferpi Steel firm for Rs 600 crore. The deal is to be finalized probably by the end of March or beginning of April.
The plan is to cater the automobile customers of Europe. HR coils would be sent from India and further finished products would be sold to the customers there.
Aferpi makes specialty long products for railways, bars for auto industry parts, earthmoving vehicles, among others and is the second largest steel maker in Italy.
JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.
