Lloyds Steel open to selling stake to help fund further recovery, Gupta says

Indian integrated steelmaker Lloyds Steel Industries would consider selling a stake in the business to a strategic partner to help the company achieve further growth.

In 2006 Lloyds Steel was declared a sick industrial unit by India’s Board of Industrial and Financial Reconstruction (BIFR). The company had been unable to service its debts. Since then the one million tpy steelmaker has been restructured and should turn a profit by April next year, Lloyds Steel chairman Mukesh Gupta told...

Published

Suresh Nair

December 14, 2010

13:00 GMT

Mumbai