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JSW Steel says it begun integration of Italy-based Aferpi specialized steel plant

JSW Steel today said it has begun integration of Italy-based Aferpi specialised steel plant that it acquired recently.


PTI Last Updated at 31 Jul 2018, 21:07 IST India

JSW Steel today said it has begun integration of Italy-based Aferpi specialized steel plant that it acquired recently.

As part of the integration process, JSW Steel Chairman Sajjan Jindal met employees of Aferpi today in Piombino, Italy, the company said in a statement.

"JSW today begins integration of its Aferpi specialized steel plant in Italy," it said.

Later in a tweet, Jindal said the plant has potential to be one of the best steel plants in the region.

JSW Steel through its wholly-owned subsidiary in Italy acquired a 100 percent stake in Aferpi for Euro 55 million.

The acquisition of Aferpi will help JSW expand its reach in the specialty steel long products market. The deal would also provide JSW a foothold for future opportunities in the European markets, the company said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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