New Zealand’s Steel and Tube Holdings to acquire Tata Steel International Australasia

Mumbai: New Zealand's Steel and Tube Ltd has agreed to acquire  Tata Steel International (Australasia) Ltd. for a cash consideration of  NZ$27.5 million on 14 April 2014. Tata Steel International Australasia Ltd. (TSIAL) is a New Zealand based company  which is the leading supplier of stainless steel, engineering steels, and composite floor  decks to the New Zealand and Pacific Island markets. The division also  offers ex-mill sales of colour coated and packaging steels, railway tracks,  and structural sections. Established in 1907 as Asia's first integrated private sector steel company,  Tata Steel Group is among the top-ten global steel companies with an annual  crude steel capacity of over 29 million tonnes per annum (MnTPA). It is now the  world's second-most geographically-diversified steel producer, with operations in  26 countries and a commercial presence in over 50 countries. The Tata  Steel Group, with a turnover of US$ 24.82 billion in FY 13, has over 80,000  employees across five continents and is a Fortune 500 company. The Group’s vision is  to be the world’s steel industry benchmark in "Value Creation" and "Corporate  Citizenship" through the excellence of its people, its innovative approach and overall  conduct. Underpinning this vision is a performance culture committed to aspiration targets,  safety and social responsibility, continuous improvement, openness and transparency.  In 2008, Tata Steel India became the first integrated steel plant in the world, outside  Japan, to be awarded the Deming Application Prize 2008 for excellence in  Total Quality  Management. In 2012, Tata Steel became the first integrated  steel company in the world, outside Japan, to win the Deming Grand Prize  2012 instituted by the Japanese Union of Scientists and Engineers.