Sajjan Jindal's JSW Steel to buy Acero Junction Holdings in $81 mn deal

Company seeks to expand operations in US with this deal, at a time when Donald Trump has imposed import tariffs on steel and aluminium

Sajjan Jindal-led JSW Steel on Thursday said it had agreed to buy 100 per cent share capital of Acero Junction Holdings for $80.85 million, as it looks to expand its operations in the US. 

Acero produces hot rolled coils, a product that is typically used in consumer durables such as refrigerators, washing machines, and automobiles. It operates a three-million tonne hot strip mill and other steel making facilities at Delaware in the US. 

The facility acquired includes an electric arc furnace, ladle metallurgy furnace, slab continuous casting machine, and a three-million tonne hot strip mill.

The Mumbai-based steel producer entered into a stock