Jindal close to acquiring ThaiNox for $325m

Friday, 20 October 2006 14:31:49 (GMT+3)   |  
       

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.

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