Usha Martin's subsidiary buys De Ruiter's biz

Kolkata, Aug 27 (UNI) Steel and wire-rope maker Usha Martin Ltd today said its UK-based subsidiary has acquired the business of distribution company DE Ruiter Staaikabel BV, Netherlands, for three million Euro .

The acquisition will help Usha Martin to widen its reach in the European market, a company statement said.

The Dutch company has a brand equity in high-end rope and allied products for shipping, port and oil field applications.

Usha Martin , a leading producer of speciality steel, is one of the largest wire rope manufacturers having facilities at Ranchi, Jamshedpur and Hoshiarpur in India, the UK, Thailand, the UAE and the US.

UNI