JSW Steel puts Texas pipe mill expansion plan on hold

Monday, 15 December 2008 21:36:12 (GMT+3)   |  
       

India's third-largest steelmaker, JSW Steel Ltd., has announced that it will postpone the expansion of its pipe manufacturing mill in Texas.

Citing a drop in pipe demand from the oil sector, Mumbai-based JSW will put on hold its previously announced plan to double annual pipe output at the Texas mill to match its plate output of 1 million metric tons.

JSW executives say that they will reevaluate the expansion plan when demand improves.

The Texas mill was the company's first US acquisition.


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