Sources suggest Tata Steel to acquire plant in Thailand
India's largest private-sector steelmaker,
Tata Steel, reportedly is negotiating to acquire a
construction grade steel plant in
Thailand in an effort to strengthen its presence in
Southeast Asia.
Two Thai steelmakers jump out as the possible target of a takeover by Tata: Tusco and Millennium Steel. Either of these companies would allow Tata to increase its
wire rod steel making capacity.
The talks regarding the acquisition are at an advanced stage; however, no final decision has been taken yet.
Financial details of the acquisition, which is likely to be done through NatSteel (
Tata Steel's
Singapore unit), also have not been disclosed yet.