Tata Sponge Iron Limited, a subsidiary of Tata Steel Limited, has acquired the steel business of Usha Martin Limited (UML), a company release said Tuesday. Addressing the gathering, Sanjay Pattnaik, Managing Director, Tata Sponge, welcomed the UML officers to Tata Sponge family. He said: "It is indeed a moment of great pride for all of us in Tata Sponge that today Usha Martin has become an integral part of the Tata Steel Group. Usha Martin is an established wire rod producer with significant equity in the market place." Tata Steel signed a definitive agreement with UML to acquire their steel business in September 2018.

Source: dna April 09, 2019 16:18 UTC