Krosaki Harima Corp., Japan’s leading refractories producer has acquired 51% of the outstanding shares in India’s top manufacturer Tata Refractories Ltd (TRL) from Tata Steel Ltd for Yen10.45bn ($127.5m.).
The deal, concluded on 21 April, strengthens Krosaki Harima’s position as the world’s fourth largest refractories producer after Vesuvius, Belgium, RHI AG, Austria, and Magnesita Refratarios SA, Brazil.
The two companies’...