Indian steel giant Tata Steel's European division, Tata Steel Europe, has announced that it has completed the acquisition from Swedish specialty steel producer SSAB of strip product service centers at Halmstad in Sweden and Naantali in Finland to strengthen its offering to manufacturers in the Nordic region. Tata Steel will also acquire from SSAB the remaining 50 percent stake it does not already own in Norsk Stål Tynnplater AS, another strip product service center, based in Fredrikstad, Norway.
The three centers process strip products, offering services such as cutting-to-length, slitting and recoiling. They supply steel to manufacturers in the automotive, construction and electrical supplies industries, as well as to heavy and light engineering companies.
The acquisitions follow approval from the national competition authorities. SSAB has sold the businesses as a condition of its takeover of Rautaruukki.