கோயம்புத்தூர் நேரலை - இது கோவையின் இதயதுடிப்பு
Decks have been cleared for the merger of Coimbatore- based Southern Iron and Steel Company (Siscol) with the parent company JSW Steel (JSWSL). The boards of both companies at their meeting on Friday approved the merger with effect from April 1, 2007, and also finalised the swap ratio. The merger process will be completed after getting the approval of shareholders of the two companies and other authorities. JSW group took over the management of Siscol with accumulated losses of Rs 356 crore (as on June 30, 2004). ‘’As per the swap ratio approved by the companies, Siscol shareholders will be allotted one share of JSWSL for every 22 shares of Siscol,’’ the source added. The merger proposal has been chalked out as part of capacity consolidation plans of Siscol, which has planned to implement a Rs 1,320 crore expansion programme for the manufacturing facilities under the merged entity. Siscol, which is currently implementing a plan to expand capacity from 3 lakh tonne to 1 million tonne by 2009-10, has set its eyes on further expansion to 3 million tonne that would catapult it to the ranks of the top steel makers in the country.
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Decks have been cleared for the merger of Coimbatore- based Southern Iron and Steel Company (Siscol) with the parent company JSW Steel (JSWSL). The boards of both companies at their meeting on Friday approved the merger with effect from April 1, 2007, and also finalised the swap ratio. The merger process will be completed after getting the approval of shareholders of the two companies and other authorities. JSW group took over the management of Siscol with accumulated losses of Rs 356 crore (as on June 30, 2004). ‘’As per the swap ratio approved by the companies, Siscol shareholders will be allotted one share of JSWSL for every 22 shares of Siscol,’’ the source added. The merger proposal has been chalked out as part of capacity consolidation plans of Siscol, which has planned to implement a Rs 1,320 crore expansion programme for the manufacturing facilities under the merged entity. Siscol, which is currently implementing a plan to expand capacity from 3 lakh tonne to 1 million tonne by 2009-10, has set its eyes on further expansion to 3 million tonne that would catapult it to the ranks of the top steel makers in the country. 
