Tata Steel Advanced Materials Limited, a wholly owned subsidiary of Tata Steel Limited, announced it has acquired 90 per cent stake in Ceramat Private Limited.
According to the company’s exchange filing, “This is to inform you that, TSAML an indirect wholly owned subsidiary (“WOS”) of Tata Steel Limited, has, today, February 28, 2022, executed a Share Purchase cum Shareholders’ Agreement (“SPSHA”) for acquisition of 90% equity stake in Ceramat Private Limited (CPL).”
Tata Steel Limited has identified Advanced Ceramics as one of the new materials for strategic growth. Within Advanced Ceramics, the first sector of choice is in medical materials owing to high growth potential and non-cyclical nature. Tata Steel Limited aspires to setup a world class facility to produce medical materials and use CPL as a special purpose vehicle for this purpose. The facility shall focus on producing Hydroxyapatite – a calcium phosphate-based ceramic used as bone replacement, the statement said.
Ceramat Private Limited (CPL) was incorporated on November 2, 2021, for the purpose of advanced ceramics with health care focus. CPL is jointly promoted by Sabyasachi Roy and Tushar Gothi. Sabyasachi Roy is a ceramic technologist and an entrepreneur and Tushar Gothi has been associated with ceramic business for 16 years.
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