OREANDA-NEWS. New Zealand's Steel and Tube Ltd has agreed to acquire Tata Steel International (Australasia) Ltd. for a cash consideration of NZUSD 27.5 million on 14 April 2014.

Tata Steel International Australasia Ltd. (TSIAL) is a New Zealand based company which is the leading supplier of stainless steel, engineering steels, and composite floor decks to the New Zealand and Pacific Island markets. The division also offers ex-mill sales of colour coated and packaging steels, railway tracks, and structural sections.

Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top-ten global steel companies with an annual crude steel capacity of over 29 million tonnes per annum (MnTPA). It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of USD 24.82 billion in FY 13, has over 80,000 employees across five continents and is a Fortune 500 company. The Group's vision is to be the world's steel industry benchmark in "Value Creation" and "Corporate Citizenship" through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspiration targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management. In 2012, Tata Steel became the first integrated steel company in the world, outside Japan, to win the Deming Grand Prize 2012 instituted by the Japanese Union of Scientists and Engineers.