Indian steelmaker
Jindal Stainless Limited is reportedly close to acquiring ThaiNox,
Thailand's largest
stainless steel producer, for $325 million.
Indian sources report that the move is part of
Jindal's strategy to consolidate its presence in the Southeast Asian market. If the deal is completed, this will be
Jindal's second acquisition in the region following its purchase of
Indonesia's Maspion Steel in 2004.