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Tata Steel has transferred its stakes in four utilities and infrastructure services entities to a wholly owned subsidiary as it continues to restructure and simplify its business.
In line with the stated policy of the senior management, the company is reorganising its India footprint into four clusters to drive scale and achieve synergies in operations.
The exercise will also simplify operations and create value for all stakeholders.
The four clusters are in long products, downstream, mining, and shared service and infrastructure verticals.
Tata Steel Utilities and Infrastructure Services Ltd (TSUISL), formerly Jamshedpur Utilities & Services Co Ltd (JUSCO) — the company which manages the Jamshedpur township for Tata Steel — has been chosen as the anchor company for the services cluster.
As part of the reorganisation, Tata Steel on Saturday transferred its 100 per cent stakes in Tata Steel Special Economic Zone Limited and in Tata Pigments Limited to TSUISL.
Tata Steel also transferred its 32.67 per cent stake in Jamipol Limited and 20.99 per cent stake in Nicco Jubilee Park Limited to TSUISL.
In November, the company had said it would merge Tata Metaliks Ltd and Indian Steel and Wire Products to Tata Steel Long Products Ltd.
In January, Tata Steel transferred its 51 per cent stake in Jamshedpur Continuous Annealing and Processing Company Private Limited to Tata Steel Downstream Products Limited.
Tata Steel Long Products Ltd (formerly Tata Sponge) and Tata Steel Downstream Products Limited (formerly Tata Ryerson Ltd) are the two anchor entities for the long products and downstream businesses.
It is Tata Steel Long Products Ltd which acquired the steel business of Usha Martin Ltd. Moreover, the Tatas have put forward this listed company to submit an expression of interest for Neelachal Ispat Nigam Ltd (NINL).
The reorganisation also involved the merger of Tata Steel BSL Ltd (formerly Bhushan Steel Ltd) with Tata Steel Ltd.
The shareholders of both the companies gave their consent to the proposed merger in the last week of March.
The company is also restructuring the international business, spanning over Europe and Asia. Several companies are being merged to simplify the structure.
Tata Steel has transferred its stake in four utilities and infrastructure services entities to a wholly owned subsidiaries as it continues to restructure and simplify the business.
In line with the stated policy of the senior management, the company is reorganising its India footprint into 4 clusters to drive scale, synergies and simplification and to create value for all stakeholders. The four clusters will operate in long products, downstream, mining and shared service and infrastructure verticals.
Tata Steel Utilities and Infrastructure Services Ltd (TSUISL), formerly Jamshedpur Utilities & Services Co Ltd (JUSCO) — the company which manages the Jamshedpur township for Tata Steel — has been chosen as the anchor company for services cluster.
As part of the reorganisation, Tata Steel on Saturday transferred the 100 per cent stake it held in Tata Steel Special Economic Zone Limited and in The Tata Pigments Limited (TPL), 32.67 per cent stake in Jamipol Limited, and 20.99 per cent stake in Nicco Jubilee Park Limited to TSUISL.
In November, the company had informed that it would merge Tata Metaliks Ltd and Indian Steel and Wire Products to Tata Steel Long Products Ltd, as part of this exercise.
In January, Tata Steel transferred 51 per cent and 50 per cent stake in Jamshedpur Continuous Annealing and Processing Company Private Limited (JCAPCPL) and Tata BlueScope Steel Private Limited (TBSPL) respectively to Tata Steel Downstream Products Limited (TSDPL), a wholly owned subsidiary of TSL.
Tata Steel Long Products Ltd (formerly Tata Sponge) and TSDPL (formerly Tata Ryerson Ltd) are the two anchor entities for long products and downstream business. It is the TSLPL which acquired the steel business of Usha Martin Ltd.
Moreover, Tatas have put forward this listed company to submit an expression of interest for Neelachal Ispat Nigam Ltd (NINL).
The reorganisation also involved the merger of Tata Steel BSL Ltd (formerly Bhushan Steel Ltd) with Tata Steel Ltd.
The shareholders of both the company gave their consent to the proposed merger in the last week of March.
The company is also restructuring the international business, spanning over Europe and Asia. Several companies are being merged to simplify the structure.
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