<p>Tata Steel’s step-down subsidiary Tata Steel Advanced Materials Limited has completed the acquisition of 90% equity shares in Ceramat Private Limited. Tata Steel Advanced Materials Limited and Ceramat had executed a Share Purchase cum Shareholders’ Agreement on 28 February 2022. Ceramat was incorporated in November 2021, for the purpose of advanced ceramics with health care focus. Ceramat is jointly promoted by Mr Sabyasachi Roy and Mr Tushar Gothi. Sabyasachi Roy is a ceramic technologist and an entrepreneur and Tushar Gothi has been associated with ceramic business for 16 years. Ceramat has not commenced operations.</p><p>Tata Steel Limited has identified Advanced Ceramics as one of the new materials for strategic growth. Within Advanced Ceramics, the first sector of choice is in medical materials owing to high growth potential and non-cyclical nature. Tata Steel Limited aspires to setup a world class facility to produce medical materials and use CPL as a special purpose vehicle for this purpose. The facility shall focus on producing Hydroxyapatite – a calcium phosphate-based ceramic used as bone replacement. The promoter of Ceramat are amongst the very few with such proven capability</p>
<p>Tata Steel’s step-down subsidiary Tata Steel Advanced Materials Limited has completed the acquisition of 90% equity shares in Ceramat Private Limited. Tata Steel Advanced Materials Limited and Ceramat had executed a Share Purchase cum Shareholders’ Agreement on 28 February 2022. Ceramat was incorporated in November 2021, for the purpose of advanced ceramics with health care focus. Ceramat is jointly promoted by Mr Sabyasachi Roy and Mr Tushar Gothi. Sabyasachi Roy is a ceramic technologist and an entrepreneur and Tushar Gothi has been associated with ceramic business for 16 years. Ceramat has not commenced operations.</p><p>Tata Steel Limited has identified Advanced Ceramics as one of the new materials for strategic growth. Within Advanced Ceramics, the first sector of choice is in medical materials owing to high growth potential and non-cyclical nature. Tata Steel Limited aspires to setup a world class facility to produce medical materials and use CPL as a special purpose vehicle for this purpose. The facility shall focus on producing Hydroxyapatite – a calcium phosphate-based ceramic used as bone replacement. The promoter of Ceramat are amongst the very few with such proven capability</p>
