JSW Steel, a leading industry player, has executed a Business Transfer Agreement with Heidelberg Cement India for acquisition of its cement grinding facility at Raigad, Maharashtra, as a going concern on slump sale basis. The transaction will however be consummated only after obtaining all relevant approvals required under applicable laws.
The company has received approval for the above on October 5, 2013 in accordance with the decision of the board of directors of the erstwhile JSW ISPAT Steel on May 21, 2013, and the consent accorded by the board of directors of the company at its meeting held on May 23, 2013.
JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.
The company has received approval for the above on October 5, 2013 in accordance with the decision of the board of directors of the erstwhile JSW ISPAT Steel on May 21, 2013, and the consent accorded by the board of directors of the company at its meeting held on May 23, 2013.
JSW Steel is part of the JSW group which, in turn, is a part of the O P Jindal group. JSW Steel is one of the largest steel manufacturing companies in India having units in Karnataka and Maharashtra producing crude steel, long steel and flat steel products.
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