Tata Metaliks has signed an agreement with Kubota Corporation, Japan and Metal One Corporation, Japan on March 25, 2013 terminating the joint venture agreement (JVA) executed on July 20, 2007 in relation to Tata Metaliks Kubota Pipes, subsidiary of the company.
The company has also signed a Memorandum of Settlement (MoS) with the Tata Metaliks Workers' Union (Union), Redi at Terekhol Road, Sindhudurg in Maharashtra in respect of all permanent employees, in pursuit of the company’s plans to close down the Redi operation.
Tata Metaliks was set up as a joint venture between Tata Steel and WBIDC (West Bengal Industrial Development Corporation) to manufacture pig iron at its plant at Kharagpur, West Bengal. It has two plants at present, one located at Kharagpur (West Bengal) and the other at Redi (Maharashtra).
| Company Name | CMP |
|---|---|
| Jindal Steel | 1287.40 |
| Lloyds Metals&Energy | 1627.90 |
| Jai Balaji Inds | 73.46 |
| Steel Exchange India | 9.75 |
| Rajputana Stainless | 128.40 |
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