Indian steelmaker JSW Steel has completed the acquisition of Italian long steel producer Acciaierie e Ferriere di Piombino (Aferpi), Italian trade union Fiom-Cgil said on Friday May 18.
JSW Steel acquired the mill from Algeria's Cevital for around 6 billion Indian rupees ($88.41 million), according to media reports in India, while Italian reports suggest the deal was valued at closer to ?,?90 million ($106.24 million), including working capital."The end of the Cevital-Aferpi experience, the purchase of the steel plant by India's JSW Steel was what we wanted and we have been waiting a long time for it," Fiom national secretary Rosario...