KOLKATA: Tata Steel, Europe’s second largest steel producer, has acquired three service centres in Sweden, Finland and Norway to strengthen its offering to manufacturers in the Nordic region. The company reached an agreement with steel producer SSAB to buy its strip products service centres at Halmstad in Sweden and Naantali in Finland.
Tata SteelBSE 0.00% will also acquire from SSAB the remaining 50% stake it does not already own in Norsk Stal Tynnplater AS, another strip products service centre based in Fredrikstad, Norway.
The three centres process strip products offering services such as cutting-to-length, slitting and recoiling. They supply steel to manufacturers in the automotive, construction and electrical supplies industries, as well as to heavy and light engineering companies. The European Commission has approved the sale of these service centres to Tata Steel, the latter said in an official statement.
