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Usha Martin’s arm to acquire 50% share capital of TUWCL

15 Jan 2024 Evaluate

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.

Peers
Company Name CMP
JSW Steel 1267.50
Tata Steel 182.85
Steel Authority 179.00
Jindal Stainless 755.20
APL Apollo Tubes 2153.00
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