Mumbai: The National Company Law Tribunal (NCLT) has approved the amalgamation of Tata Steel and its subsidiary, Indian Steel and Wire Products (ISWP) Limited. This merger, initially approved by both companies’ boards in September 2022, will result in the combined entity being presented to customers under the brand “One-Tata Steel.”
The purpose of the merger is to create a unified entity that hosts value-added products under Tata Steel, thereby enhancing shareholder value. The restructuring aims to simplify the group’s structure by eliminating multiple companies within similar business areas.
Regarding the Sales and Distribution (S&D) network, the merger is expected to foster a culture of customer satisfaction by providing a consistent product and service experience.
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This “one-face” approach to customers is intended to streamline addressing customer needs, resolve complaints more efficiently, ensure timely deliveries, and improve overall service quality. The merger received unanimous approval from Tata Steel’s shareholders during a meeting held on January 25.
