MoneyWorks4Me

Sumitomo Corporation buys 49% stake in Mukand’s JV

23 May 2018 Evaluate

Sumitomo Corporation has bought 49% stake in the joint venture (JV) company, Mukand Sumi Special Steel, a leading specialty steel supplier for the fast growing automotive and engineering industries, for Rs 1180.99 crore. Mukand retains 51% equity of this joint venture company.

The joint venture is engaged in the business of rolling, finishing and marketing of alloy steel wire rods and bars made from blooms and billets procured exclusively from Mukand’s Hospet plant in Karnataka.

Mukand is engaged in manufacturing of alloy and stainless steel long products.

Peers
Company Name CMP
JSW Steel 1215.70
Tata Steel 175.60
Steel Authority 171.25
Jindal Stainless 736.25
APL Apollo Tubes 2137.60
View more..