TATA STEEL is hungry for more acquisitions even as it grapples with the financing of the Corus deal. One day after the Corus shareholders approved the take over proposal by Tata Steel, the company has announced three more, albeit smaller, acquisitions.
NatSteel Asia Pte Ltd, the Singapore subsidiary of Tata Steel has acquired two new steel-bar rolling plants in Vietnam for $41 million (Rs.180 crore). NatSteel has bought 100 per cent stake in Structural Steel Engineering Pte Ltd and 70 per cent stake in Vinausteel Ltd from Vietnam Industrial Investment Ltd. The deal is likely to be completed by June 2007

Tata Steel itself has also completed the acquisition of Rawmet Industries Pvt. Ltd, as per the agreement signed on January 15, 2007. This company has a ferro alloys plant near cuttack. This deal is worth Rs 101 crore. In Vietnam, Natsteel Asia would get hold of two rolling mills – a 250 kilotonne per annum bar and wire rod mill operated by SSE Steel Ltd and a 180 kilotonne per year reinforcing bar mill operated by Vinausteel Ltd located in Haiphong, North Vietnam as part of the agreement.