Arjas Steel acquires steel, auto components businesses of Modern Steels
2020-11-17 12:02:39 [Print]
Arjas Steel has acquired steel, auto components and heat treatment businesses of Chandigarh-based Modern Steels Ltd., the Bengaluru-headquartered company said on Monday.
"On November 15, a definitive agreement was signed between wholly-owned subsidiary Arjas Modern Steel Private Limited and Modern Steels Ltd., to acquire 100 per cent of all steel business, heat treatment business and auto component business of Modern Steels Ltd," Arjas Steel said in a statement.
Arjas Steel owns and operates a 3,00,000 tonne integrated steel plant at Tadipatri in Andhra Pradesh. The company is one of the leading manufacturers of alloy steel in the country.
"On November 15, a definitive agreement was signed between wholly-owned subsidiary Arjas Modern Steel Private Limited and Modern Steels Ltd., to acquire 100 per cent of all steel business, heat treatment business and auto component business of Modern Steels Ltd," Arjas Steel said in a statement.
Arjas Steel owns and operates a 3,00,000 tonne integrated steel plant at Tadipatri in Andhra Pradesh. The company is one of the leading manufacturers of alloy steel in the country.
