Usha Martin’s subsidiary -- Usha Siam Steel Industries Public Company (USSIPCL) has entered into an agreement to acquire 50% of the share capital of Tesac Usha Wirerope Company (TUWCL), a step-down joint venture of the Company from Kobelco Wire Company. Post this acquisition, TUWCL will become a subsidiary of USSIPCL and a step-down subsidiary of the Company. Cost of acquisition is Baht 74.45 million.
Usha Martin is one of the world’s leading manufacturer of wire rope.