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Tata Steel board approves merger of seven group companies

Each merger plan will now proceed through a clear regulatory approval procedure, which includes approval from stock exchanges and the NCLT.

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The Tata Group's board of directors has given its approval for all of its metal businesses to be combined into Tata Steel. The merger of the company's seven metal companies with its parent metal company, Tata Steel Limited, was approved by the company board at its meeting on Thursday. 
 
Tata Steel Long Products Limited, The Tinplate Company of India Limited, Tata Metaliks Limited, TRF Limited, The Indian Steel & Wire Products Limited, Tata Steel Mining Limited, and S & T Mining Company Limited are the seven metal businesses in the Tata group that will merge with Tata Steel.
 
Each merger plan will now proceed through a clear regulatory approval procedure, which includes approval from stock exchanges and the NCLT.
 
This merger will lead to operational integration and better facility utilisation, an increase in customer satisfaction and services, a stronger market presence in the long-product segment, improved working capital and cash flow management, improved raw material security, quicker project execution, a more straightforward organisational structure and management facility, and sharing best practises in sustainability, safety, health, and the environment.
 
The proposed amalgamation is also part of Tata Steel’s continuing journey to simplify the group holding structure. Since 2019 Tata Steel has reduced 116 associated entities (72 subsidiaries have ceased to exist, 20 Associates and JVs have been eliminated and 24 companies are currently under liquidation), said the company in its press release.
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