JSW Steel acquires the remaining shares of GSILucchini

Published: Dec 23, 2020 13:47

Source: SMM compilation

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JSWSteel, one of India's largest steelmakers, announced that its Italian subsidiary JSWSteel Italy had signed an agreement with South Africa-based Industrial Development Cooperation to buy the remaining 30.73 per cent of Italian forged steel producer GSI Lucchini for 1 million euros.

JSW Steel Italy already holds the remaining share capital of GSI69.67%. GSI's manufacturing department is located in Piombino, Italy, and has easy access to the export market through the port of Piombino. The location of the factory gives it a specific advantage in terms of delivery time, service level and logistics cost in the target market.

Acquired by JSW steel company

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