Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Indian steel maker JSW Steel’s Italian subsidiary plans to acquire the remaining 30.73pc of forged steel producer GSI Lucchini for €1mn ($1.2mn) from IDC South Africa. 


According to a release by the company, JSW Italy already holds 69.67pc of GSI. The transaction will transfer 100pc ownership of Lucchini to JSW, subject to fulfillment of conditions mentioned in the share purchase agreement entered by the companies. 


GSI is located at the port city of Piombino in Italy, which enables access to import/export routes and eases raw material imports like billets and bars, which in turn, will help expand steel production, JSW noted. 


($1 = €0.82)

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