# Usha Martin's Thai subsidiary to acquire 50% stake in Tesac Usha Wirerope

Usha Siam Steel Industries Public Company Ltd, a subsidiary of Usha Martin in Thailand, signed an agreement to acquire a 50% stake in Tesac Usha Wirerope Company Ltd from Kobelco Wire Company Ltd for 74.45 million baht. The deal is expected to close by January 31, 2024.

- Type: Acquisition
- Announced: 2024-01-16
- Where: Thailand
- Value: $2.10M (74.5M THB)
- Status: announced
- Products: wire ropes
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Usha Siam Steel Industries](https://endata.com/companies/75029.md)
- [Usha Martin](https://endata.com/companies/34469.md) (investor)
- [Kobelco Wire Company](https://endata.com/companies/75030.md) (target)
- [Tesac Usha Wirerope Company](https://endata.com/companies/75031.md) (target)

## Sources

- [wireworld.com](https://www.wireworld.com/wirenews/usha-martins-thai-subsidiary-to-aquire-half-of-tesac-usha-wirerope.html), 2024-01-16: "Usha Siam Steel Industries Public Company Ltd, the subsidiary of Usha Martin in Thailand, has signed an agreement to acquire a 50 percent stake in Tesac Usha Wirerope Company Ltd."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.