Steel Products
August 22, 2013
JSW to Sell Baytown, Texas Facility
Written by Sandy Williams
JSW Steel Ltd. is considering selling its U.S. mill in Baytown, Texas said reports by Bloomberg. JSW, India’s third largest steel maker, hopes to pay off some of its debt and boost earnings margins by selling the USA asset. In its fourth quarter earnings statement in March 2013, the company reported a decline of 61.56 percent in consolidated net profit; debt is reported to be $3.4 billion.
The Baytown facility is currently operating at 40 percent capacity, said joint managing director Seshagiri Rao, but is expected to boost production to 50 percent from new construction and energy orders.
