JSW Steel Arm Periama Completes Acquisition of JSW USA
JSW Steel’s subsidiary, Periama Holdings LLC, has completed the acquisition of the remaining 10% stake in JSW USA’s common stock, making JSW USA a wholly-owned subsidiary of JSW Steel. The acquisition was approved by the board of JSW Steel Limited in a meeting held on October 20, 2023. JSW USA is a steel plate mill with a capacity of 1.2 million net tonnes per annum and a pipe-making capacity of 0.55 million net tonnes per annum. The facility is located near a port and in close proximity to key customers in the oil and gas industry. JSW Baytown services the needs of the energy, petrochemicals, defense, and other heavy equipment industries in the USA that require high-quality carbon plates.
