Tata Steel has transferred the 51 percent stake it holds in Jamshedpur Continuous Annealing and Processing Company (JCAPCPL) and 50 percent stake it holds in Tata BlueScope Steel (TBSPL) to Tata Steel Downstream Products (TSDPL).
The step was taken to reorganize the company's India footprint into four clusters to drive scale, synergies and simplification, and to create value for all stakeholders. The transfer will help consolidate its downstream steel processing services.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.
