Tag «Stemcor»

Stemcor launches tender to sell Indian ore assets

London-based trading group Stemcor has started a competitive tender process to find a buyer of its Indian iron ore assets, banking sources told Platts Tuesday. The company has rejected management-led offers involving Jindal Steel & Power, for the iron ore assets and Stemcor India, and an exclusivity period between the parties lapsed last week. Naveen …

Stemcor cutting headcount across core business by 25%

Stemcor is reducing headcount across its “core trading and distribution businesses” by 25% as it aims to pay down its $1.2 billion debt, a spokesman for the London-based trading company confirmed Thursday. “This is commensurate with lower revenues that will follow as a result of our efforts to streamline the business to focus on high …