Kanishk Steel merges two group companies

Kanishk Steel merges two group companies

Kanishk Steel Industries Ltd., a thermo mechanically treated (TMT) bar and structural steel producer located in Chennai, India, announced the merger of two of its group companies – O P Steels, and Avanti Oil & Steel Industries Private Limited – with the company itself. The merger of the two companies with Kanishk Steel will be effective retrospectively as of April 1, 2004. Ravi Gupta, Chairman and Managing Director of Kanishk Steel Industries, said, “The merger of O P Steels and Avanti Oil & Steel Industries with Kanishk Steel Industries will give us the advantage of scale in terms of production capacity, sales efficiency and the capacity to take up large projects for expansion”.