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CCI approves acquisition of 15.43% shareholding by Sanyo Special Steel Co. Ltd.

Newdelhi:30/4/24:The Competition Commission of India (CCI) has approved the acquisition of 15.43% shareholding by Sanyo Special Steel Co. Ltd. in Sanyo Special Steel Manufacturing India Private Limited from Mitsui & Co. Ltd.

Sanyo Special Steel Co., Ltd. is a Japan-based company that manufactures and sells steel products globally. It has manufacturing hubs in Europe and India. It is engaged in the manufacturing and marketing of various special steel products, including bearing steel, engineering steel, stainless steel, heat-resistant steel, and tool steel. Sanyo is part of the Nippon Steel Corporation Group.

SSMI was a joint venture company which was incorporated in September 2012 between Mahindra & Mahindra Limited (India), Sanyo Special Steel Co., Ltd (Japan), and Mitsui & Co., Ltd (Japan). In March 2019, the shareholding of Target underwent a change and Sanyo Special Steel Co., Ltd. became the majority shareholder. Presently, SSMI is a subsidiary of the Acquirer / Sanyo Special Steel Co. Ltd.

SSMI is engaged in the market for manufacture of forged products, hot rolled products, and cast products.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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