India’s Tata Steel Limited has completed the merger of five companies completing all regulatory processes but has called off the merger of TRF Limited, a service provider to core sector industries, a company statement said on Thursday, February 8.
The five companies merged with Tata Steel Limited were Tata Steel Mining Limited, Tata Steel Long Products Limited, S&T Mining Limited, Tinplate Company India Limited and Tata Metaliks Limited.
Tata Steel Limited said that the merger proposal in the case of TRF Limited has been called off.
Since the announcement of the intended merger of TRF Ltd in September 2022, Tata Steel has been providing significant operational and financial support by way of placement of orders and infusion of funds, it said.
Tata Steel added that, with its support, TRF successfully navigated a highly challenging operating environment and is now seeing a turnaround in its performance, it added.
TRF Ltd undertakes turnkey material-handling projects for the infrastructure sector, such as power and ports, and the industrial sector, such as steel plants, cement, fertilisers and mining.
