Tata Steel, the flagship company of the automobile-to-aviation Tata Group, will acquire three strip products service centres in Sweden, Finland and Norway from rival SSAB to strengthen its offering to manufacturers in the Nordics.
Tata Steel, the flagship company of the automobile-to-aviation Tata Group, will acquire three strip products service centres in Sweden, Finland and Norway from rival SSAB to strengthen its offering to manufacturers in the Nordics.
About 180 people are employed at the three centres - 60 at Halmstad, Sweden, 70 in Naantali, Finland and 50 at Fredrikstad, Norway. The financial terms of the transaction were not disclosed. The three centres process strip products, offering services such as cutting-to-length, slitting and recoiling. SSAB is required to sell the centres as a condition of its $1.6-billion takeover of Finnish steelmaker Rautaruukki.
Karl Koehler, CEO of Tata Steel's European arm, said: “There is a sophisticated and demanding customer base in the Nordic region which increasingly requires advanced steel products. And Tata Steel is committed to developing these innovative steel products.”
