Tata Steel divests stake in Lanka Special Steels
The company has sold off its stake in the wholly owned subsidiary to E B Creasy & Company PLC for Rs 20 cr
Lanka Special Steels was a wholly owned subsidiary of Tata Steel incorporated in Sri Lanka. It is engaged in the business of manufacturing and supplying hot dip galvanised wire and nail wire with an installed capacity of 14,400 metric tonnes per annum. It had an annual turnover of LKR 1,569 million (Rs 74 crore) in FY 14.