JSW Steel acquires remaining 30% stake in Italy’s GSI Lucchini
Steel

JSW Steel acquires remaining 30% stake in Italy’s GSI Lucchini

JSW Steel has acquired the remaining 30% stake in Italy's GSI Lucchini SpA for a cash consideration of €1 million.

The agreement to acquire GSI's remaining stake was signed in December last year. The balance share capital of GSI is already held by JSW Steel Italy Srl, a subsidiary of JSW Steel. The manufacturing unit of GSI is located at the port city of Piombino in the Tuscany region, providing easy access to export markets.

The acquisition also allows specific advantages in terms of lead time, service level and logistics cost in its target markets, JSW Steel told the media. The port-based facility also gives GSI the flexibility and access to import raw material's bars/blooms and billets to supplement supplies as required, said JSW.

GSI Lucchini is a producer of forged steel balls used in grinding mills with predominant mining processing applications. The brand is recognised in Europe and Africa and is among the prominent suppliers in African mines.

In December 2020, JSW Steel Italy Srl had signed an agreement with Industrial Development Corporation, South Africa, to acquire 30.73% in GSI, provided that the company meets certain performance criteria.

JSW Group member JSW Steel is an integrated manufacturer of a diverse range of steel products with an export presence in over 100 countries.

The company has a total steel-making capacity of 18 million tonne per annum and is among the leading producers and exporters of coated flat steel products in India.

The acquisition provides a unique opportunity for JSW to consolidate its stake in GSI.

Image Source


Also read: JSW Steel finalises Welspun Steel division acquisition for Rs 848 cr

Also read: JSW Steel completes Bhushan Power and Steel acquisition

JSW Steel has acquired the remaining 30% stake in Italy's GSI Lucchini SpA for a cash consideration of €1 million. The agreement to acquire GSI's remaining stake was signed in December last year. The balance share capital of GSI is already held by JSW Steel Italy Srl, a subsidiary of JSW Steel. The manufacturing unit of GSI is located at the port city of Piombino in the Tuscany region, providing easy access to export markets. The acquisition also allows specific advantages in terms of lead time, service level and logistics cost in its target markets, JSW Steel told the media. The port-based facility also gives GSI the flexibility and access to import raw material's bars/blooms and billets to supplement supplies as required, said JSW. GSI Lucchini is a producer of forged steel balls used in grinding mills with predominant mining processing applications. The brand is recognised in Europe and Africa and is among the prominent suppliers in African mines. In December 2020, JSW Steel Italy Srl had signed an agreement with Industrial Development Corporation, South Africa, to acquire 30.73% in GSI, provided that the company meets certain performance criteria. JSW Group member JSW Steel is an integrated manufacturer of a diverse range of steel products with an export presence in over 100 countries. The company has a total steel-making capacity of 18 million tonne per annum and is among the leading producers and exporters of coated flat steel products in India. The acquisition provides a unique opportunity for JSW to consolidate its stake in GSI. Image Source Also read: JSW Steel finalises Welspun Steel division acquisition for Rs 848 cr Also read: JSW Steel completes Bhushan Power and Steel acquisition

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement