Japan’s Krosaki Harima buys majority stake in Tata Refractories

On April 21, Japanese refractory producer Krosaki Harima Corporation (Krosaki) announced that it has bought a 51 percent share in India-based Tata Refractories Limited (TRL) from Tata Steel.
 
After the deal, Tata Steel's share in TRL dropped to 26.5 percent from 77.5 percent.
 
With this acquisition, Krosaki plans to expand its sales in the growing Indian refractories market, establish a hub from which to expand its business to Southeast Asia, the Middle East and Europe, and, in the future, supply affordable products to Japan and procure raw materials for refractories.