Steel and Tube to buy local Tata Steel unit for $27.5 mln

Mon, 07 Apr 2014

April 8 (BusinessDesk) - Steel & Tube, which manufactures steel products, plans to buy the local division of India’s Tata Steel Group for $27.5 million. The Lower Hutt-based company plans to buy Tata Steel International Australasia on April 14, acquiring its stainless and engineering steel distribution business and composite steel floor manufacturing, Steel & Tube said in a statement. “Together we are further strengthening our position as New Zealand’s leading steel distribution company,” Steel & Tube chief executive Dave Taylor said. “It’...

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