M&A

M&A

Tata Steel acquires 90% stake in ceramics components maker Ceramat for Rs.90-K

Business Line  

Mumbai-based, publicly-listed Tata Steel, through its wholly-owned subsidiary Tata Steel Advanced Materials, has acquired a 90% stake in Thane-based Ceramat Pvt Ltd, an advanced ceramics manufacturing company, for INR 90,000. The deal is expected to be closed in 60 days. Promoted by Sabyasachi Roy and Tushar Gothi, Ceramat manufactures ovarious oxide ceramic compositions through process routes such as lslip casting, gel casting, powder compaction, spray drying and vibro-casting. It is yet to commence production.