Jindal Stainless to form a jv with a Chinese company

Jindal Stainless to form a jv with a Chinese company

According to market reports a Chinese company is currently in talks with India's largest stainless steel exporter Jindal Stainless Ltd regarding the relocation of its US subsidiary Masillon Stainless Inc to China. It is known that Jindal Stainless has been lately looking for buyers for the subsidiary located in Ohio as company had decided to leave US market due to weak market conditions. In case an agreement is reached, the plant which has an annual cold rolling capacity of 50'000 mt will be relocated to China and Jindal will take a majority stake in the joint venture. It is also reported that hot rolled coil to the plant may be supplied by Hissar plant in Haryana. Currently, 61% of Masillon Stainless Inc is held by Jindal Stainless.