NSA buys two steel plants in Vietnam

NatSteel Asia Pte Ltd. (NSA), the Singapore-based unit of the Indian steel producer Tata Steel, said on Thursday that it has acquired a 100 percent stake in Structure Steel Engineering Pte Ltd. (SSE(S)) and a 70 percent stake in Vinausteel Ltd for a total of $41 million. The remaining 30 percent stake in Vinuasteel is held by Vietnam Steel Corporation (VSC). The acquisitions are subject to certain closing adjustments on the deal completion between NSA and Vietnam Industrial Investment Ltd. This acquisition will provide NSA with an additional 250,000 metric tons of steel bars and wire rod and 180,000 metric tons of rebar annually.