Usha Martin’s wholly owned subsidiary -- Usha Martin Americas Inc. (UMAI) has entered into an agreement to acquire 2.02% of the share capital of Usha Siam Steel Industries Public Company (USSIL), a subsidiary of the company from Kobelco Wire Company.
Subsequent to the acquisition of the said shares by UMAI, USSIL shall become a step-down wholly owned subsidiary of the company. The cost of acquisition is around Baht 14.25 million.
Usha Martin is one of the world’s leading manufacturer of wire rope.
