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Ryerson Sells Stake in Tata Ryerson Joint Venture
07/13/2009 - Ryerson completes the sale of its 50% equity interest in Tata Ryerson Ltd. to Tata Steel.
Ryerson Inc. has completed the sale of its 50% equity interest in Tata Ryerson Ltd. to Tata Steel Ltd.
Tata Ryerson was founded in 1997 as a 50/50 joint venture between Tata Steel and Ryerson. Since its founding, it has grown to become one of India's leading steel service centers.
Pre-tax proceeds of the transaction were $49 million.
Ryerson Inc. is a leading distributor and processor of metals in North America and China. The company services customers through a network of service centers across the United States, Canada and China.
About Platinum Equity
Platinum Equity is a global M&A&O(R) firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets. Since its founding in 1995 by Tom Gores, Platinum Equity has completed nearly 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition.
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