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DTI assisting Uttam Galva in Global Steel Philippines matter
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Wednesday, 13 Mar 2013
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Manila Standard Today reported that the Trade Department will arrange a meeting between Uttam Galva Metallics Ltd of India and creditor banks to facilitate the company’s acquisition into Global Steel Philippines Inc.

A ranking senior Trade official said that “We will schedule a meeting with creditor banks ASAP.”

The Trade official said that the meeting was needed to determine the extent of liabilities incurred by the Iligan-based steel manufacturer, as well as measure Uttam’s resolve to acquire the financially challenged steel company.

Uttam is said to meet with creditor banks led by the Philippine National Bank.

Source - Manila Standard Today

(www.steelguru.com)

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