Tata Steel to sell cold rolling mill in Gujarat for Rs67 crore

03 April 2007

Mumbai: Tata Steel will sell its cold rolling mill at Sisodra in Gujarat to Theis Precision Steel India for Rs67 crore. The two com0panies signed a sale agreement on 2 April.

However, the sale is subject to Theis completing certain conditions precedent by 30 April, Tata Steel said in a filing with the Bombay Stock Exchange (BSE).

Theis Precision is an indirect wholly-owned subsidiary of Friedr Gustav Theis Kaltwalzweke of Germany.

Tata Steel Ltd, meanwhile, said crude steel production of the company for the year 2006-07 has crossed five million tonnes.

Production of hot metal touched 5.55-million tones while crude steel production touched 5.05 million tones. Saleable steel production stood at 4.93-million tones, the company said in a statement.

The statement said production of rebars at Jamshedpur crossed one-million tonne mark, while the production of rebars in its Southeast Asian plants was another 1.7 million tonnes.