Tata Steel will amalgamate Kalimati Investment Company (KICL) with itself with effect from January 1, 2013. Pursuant to which, shares of the company in KICL will stand cancelled, as Tata Steel is the only shareholder of KICL. This amalgamation is subject to and condition upon requisite approvals and orders under Companies Act, 1956.
The entity has registered its best ever performance in FY13 in Hot Metal, Crude Steel, Saleable Steel production and total Sales. The company’s sales of Flat product in FY13 have increased by 20.2% to 4.49 million tonnes as compared to 3.73 million tonnes in FY12. The company’s Flat Products division has achieved its highest ever annual high end product sales of 190 kt to Auto customers as compared to 155 kt in FY12.
