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Tata Metaliks gets nod for amalgamation with Tata Steel

11 Apr 2013 Evaluate

Tata Metaliks (TML) has received an approval for the amalgamation of TML with Tata Steel (TSL), with effect from April 01, 2013.The Board of Directors of the company and the Committee of Directors of TSL, have at their respective meetings held on April 10, 2013, based on the recommendations of their Audit Committee, approved for same.

In terms of the Scheme, TML will be amalgamated with TSL followed by the dissolution of the Company without winding up.

Meanwhile, in other development Tata Metaliks Kubota Pipes (TMKPL), subsidiary of the company at their meeting held on April 10, 2013 has also approved the amalgamation of their company with TSL.

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).

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