SAIL welcomes Arcelor-Mittal merger
State-run Steel Authority of India Ltd on Monday welcomed the merger of world's two largest steel companies Mittal and Arcelor and said it would help contain the volatility in prices.
By PTI |
NEW DELHI: State-run Steel Authority of India Ltd on Monday welcomed the merger of world's two largest steel companies Mittal and Arcelor and said it would help contain the volatility in prices.
"With such mergers and acquisitions, it is expected that the volatility of steel, with sharp swings in prices will come down. This is beneficial not only for manufacturers but for consumers also," SAIL Chairman V S Jain said in a statement.
SAIL, country's largest steel maker, said that global mergers and acquisitions would also have an indirect impact on the minds of Indian entreprenuers.
But, although mergers and consolidation in the country may not materialise in the near future, over a period of time such a path may become inevitable, the company said.
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