Tata Steel announced the acquisition of three strip products service centres in Sweden, Finland and Norway to strengthen its offering to manufacturers in the Nordic region.
Tata Steel in Europe has reached an agreement with steel producer SSAB to buy its strip products service centres at Halmstad in Sweden and Naantali in Finland. Tata Steel will also acquire from SSAB the remaining 50% stake it does not already own in Norsk Stål Tynnplater, another strip products service centre based in Fredrikstad, Norway. The three centres process strip products offering services such as cutting-to-length, slitting and recoiling. They supply steel to manufacturers in the automotive, construction and electrical supplies industries, as well as to heavy and light engineering companies.
Karl Koehler, chief executive of Tata Steel in Europe, said: “These acquisitions will strengthen our strip products offering to manufacturers in this region. There is a sophisticated and demanding customer base in the Nordic region that increasingly requires advanced steel products. Tata Steel is committed to developing these innovative steel products that give our customers a competitive edge. Just last week, we announced the launch of our 100th new product in our revitalised new product development programme.”
