Tata Steel Long, Tata Steel amalgamation gets NCLT approval

20 Oct 2023 , 09:12 AM

Tata Steel Long Products Ltd said that the National Company Law Tribunal (NCLT) has authorized the company’s amalgamation with Tata Steel Ltd. Tata Steel intends to combine with Tata Steel Long Products and six other businesses.

Tata Steel Long Products stated in a regulatory filing that the NCLT’s Cuttack bench approved the company’s merger with Tata Steel on October 18.

T V Narendran, CEO and MD of Tata Steel stated that the merger of the subsidiary companies with Tata Steel is scheduled to be completed in 2023-24.

Tata Steel Long Products, Tata Metaliks, TRF, The Tinplate Company of India, Indian Steel & Wire Products, Tata Steel Mining, and S&T Mining Company are the subsidiaries that will be integrated with Tata Steel.

Tata Steel Long Products Limited (TSLP), formerly known as Tata Sponge Iron Limited, manufactures high alloy steel for the automotive and wire rope industries. It is one of India’s largest specialized steel mills in the long product class, with a capacity of one million tonnes.

 

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