Visa Steel has received an approval for acquisition of trading business of carbon products from VISA Resources India, on a going concern basis at a consideration equal to the net book value of the assets and liabilities of the trading business and subject to the necessary approvals as may be required. The board of directors at its meeting held on October 31, 2013 has approved for the same.
VISA Resources India is a wholly owned subsidiary of VISA Infrastructure. VISA infrastructure is also the holding company of the company.
Visa Steel is a leading player in the Special Steel, Coke and Ferro Chrome industry in India with manufacturing facilities located at Kalinganagar Industrial Complex in Odisha.