TISCO looking for acquisitions in CIS and Europe
According to market reports Indian steel maker Tata Iron and Steel Company (TISCO), planning to expand in the global market, is in search for possible and necessary acquisitions in CIS and European countries as well as South East Asian countries. However, currently there is no information about which CIS and European countries TISCO is interested in. Besides, a company official earlier stated that the company was also looking for acquisitions within the country and expansion in Jamshedpur. It is speculated that TISCO is interested in a plant in Orissa. As previously reported by SteelOrbis, the company was in talks with the South Korean steel producer Hanbo Steel and Shanghai Baosteel Engineering & Equipment, a division of Baosteel Group. In the meantime, TISCO is taking over a wire drawing plant in Sri Lanka, Mascons Ltd. which has an annual production capacity of approximately 12'000-15'000 tons.