Tata Steel Mining Limited (TSML), a wholly owned subsidiary of Indian steel producer Tata Steel Limited has acquired Rohit Ferro Tech Limited for an estimated $81 million through the bankruptcy resolution process, a Tata Steel official said on Monday, April 11.
“The acquisition will help us consolidate our position in the ferroalloys business. Rohit Ferro’s plant in West Bengal is a stainless steel facility and we look forward to having it in our fold,” Tata Steel managing director T. V. Narendran said.
The acquisition will enable TSML to double its ferrochrome production to 900,000 mt per year.
