Posted in | News | Ferrous Alloys and Metals | Business | Iron and Steel

Thyssen Krupp to Assume Full Ownership of Its Indian Joint Venture

Apr 5 2004

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Thyssen Krupp is to assume complete ownership of its Indian EBG India steel joint venture. This will occur when they compete the acquisition of Raymond Ltd’s remaining 16.4% share in the joint venture through a shareholder agreement option.

EBG India produce electrical and mild steel products.

Thyssen Krupp originally held a 74% share in EBG, with Raymond holding the remaining 26%. In July 2002, Thyssen Krupp’s share went up to 83.6%, with Raymond’s decreasing accordingly through a rights issue which Raymond did not participate in.

The joint venture took over Raymond’s steel business when it was originally established. The selling off of their share will also see Raymond exit the steel industry.

For more information on steel manufacture, click here.

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