JSW Steel and JFE Join Forces to Acquire 100% Stake in thyssenkrupp Electrical Steel India: Boost for Electric Vehicles and Renewable Energy Sectors

JSW Steel Limited has announced that it will acquire a 100% stake in thyssenkrupp Electrical Steel India Private Limited (tkES India) through a partnership with Japan’s JFE Steel Corporation. This deal was approved by the Board of Directors of JSW Steel and is part of their strategy to strengthen their presence in the electrical steel market.

In a press release, JSW Steel confirmed that their subsidiary, Jsquare Electrical Steel Nashik Private Limited, has signed an agreement to buy all of tkES India’s shares. The deal also includes the transfer of important technology from the thyssenkrupp group, which will help run tkES India’s operations.

The transaction still needs regulatory approvals and must meet certain conditions before it is finalized.

JSW JFE Electrical Steel Private Limited (J2ES), a joint venture between JSW Steel and JFE, will lead this acquisition. The goal is to boost JSW Steel’s role in the electrical steel market, which is key for industries like renewable energy and electric vehicles. This deal supports JSW Steel’s broader plan to grow its products and services in the fast-growing electrical steel sector.

The acquisition is a major step for both JSW Steel and JFE Steel, enhancing their collaboration and using advanced technologies to better serve their customers.