Tata Sponge Iron Office Shifting From Odisha To Bengal
Bhubaneswar: Tata Steel subsidiary Tata Sponge Iron said its board has approved shifting of the company’s registered office from Odisha’s Keonjhar to Bengal and changing its name to Tata Steel Long Products or such other name, the Financial Express has reported.
The company, in which Tata Steel holds 54.5 per cent shareholding, took this major decision on Thursday, after it took over the steel business of Kolkata-based Usha Martin earlier this month.
The acquisition would help the company, a major producer of sponge iron, diversify beyond sponge iron business and enter into steel business with a focus of speciality long products portfolio.
After Tata Global Beverages, Tata Metaliks and Tinplate Company of India, this will be the fourth Tata company whose registered office would be in Bengal.