Steel
Tata Metalliks & ISWP to Merge in Tata Steel Long Products
Tata Steel is reorganizing its India footprint and folding listed and unlisted subsidiaries into 4 clusters to drive scale, synergies and simplification and to
create value for all stakeholders. The business clusters are Long products, Downstream, Mining and Utilities & Infrastructure. The Boards of Tata Steel Long Products, Tata Metaliks and Indian Steel and Wire Products approved the merger of Tata Metaliks and Indian Steel and Wire Products into Tata Steel Long products.
The proposed consolidation will create significant synergies and position the company towards future growth in the long products segment. Tata Steel expects to complete the process in next 6-9 months, subject to necessary regulatory approvals.
