Sources suggest Tata Steel to acquire plant in Thailand

Sources suggest Tata Steel to acquire plant in Thailand

India's largest private-sector steelmaker, Tata Steel, reportedly is negotiating to acquire a construction grade steel plant in Thailand in an effort to strengthen its presence in Southeast Asia. Two Thai steelmakers jump out as the possible target of a takeover by Tata: Tusco and Millennium Steel. Either of these companies would allow Tata to increase its wire rod steel making capacity. The talks regarding the acquisition are at an advanced stage; however, no final decision has been taken yet. Financial details of the acquisition, which is likely to be done through NatSteel (Tata Steel's Singapore unit), also have not been disclosed yet.