Steel & Tube confirms acquisition of TSIAL
Steel & Tube Holdings Ltd confirms it has completed the acquisition of Tata Steel International Australasia Ltd (TSIAL). The consideration of $27.5m is for assets of $28m inclusive of $3.7m of cash and is subject to the finalisation of completion accounts.
TSIAL supplies stainless steel, engineering steels and composite floor decks to the New Zealand and Pacific Island markets.
ENDS
About Steel & Tube
Steel & Tube is New Zealand’s leading supplier of steel products and services. It has a nationwide service and distribution network in 40 locations and is listed among the top 50 companies on the New Zealand Stock Exchange by market capitalisation. It caters to numerous sectors across the New Zealand economy including commercial and residential construction, manufacturing, rural and heavy and light engineering. Its product range includes the Hurricane and Atlas brands.
About TSIAL
Tata Steel International (Australasia) Ltd is a division of Tata Steel. In New Zealand, Tata Steel markets the multi-metals product range and services of the Tata Steel group, together with the range of standard and special grade stainless steel products from a range of manufacturers. Principal market sectors include: food and beverages, pulp and paper, mining, chemicals, oil and gas, construction, transport and infrastructure, manufacturing, and marine and general engineering.
For more information contact Diane Robinson, Steel & Tube
Communications Manager: 027 569 1919 / 04 570 3290.