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JSW Steel acquires 26 percent stake in Indian tinplate producer

Wednesday, 09 April 2014 14:04:09 (GMT+3)   |   Istanbul
       

Indian steelmaker JSW Steel has announced that it has acquired a 26 percent stake in Punjab-based Vallabh Tinplate Pvt Ltd (VTPL), fulfilling the customary closing conditions and third party consents.

As SteelOrbis previously reported, in February this year JSW Steel  announced its plans to buy a 50 percent stake in VTPL for INR 460 million ($7.6 million) in two phases. Acquisition of the 26 percent stake marks the completion of the first phase.

VTPL is currently operating a 60,000 mt per year tinplate manufacturing facility in the Patiala district in Punjab.


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