Posted on 18 Nov 2021
Recently, Tata Steel, one of the leading steelmakers in the world, announced to restart the selling plan of its steel mill in Thailand, as the subsidiary has faced poor profitability for the long term.
It will be another huge step for Tata Steel to reduce its debt by selling subsidiaries in the world, it just sold its business in Singapore a few months ago.
Tata Steel indicated that it would pay more attention in its domestic market in India, and would continue to sell unprofitable overseas subsidiaries.
Although the local government didn’t approve Tata Steel to sell its steel business in Thailand to Hesteel Company Limited, one of the Chinese steel giants, most of the market participants are still optimistic about this selling project.
Source:Yieh
