In a remarkably frank and open article, the FT today reports JSW [India’s third-biggest private sector steelmaker] as acknowledging that their acquisition of a Texas-based pipemaker in 2007 was a mistake.
According to the FT, Mr Sajjan Jindal (JSW’s Managing Director) now considers that JSW have a competitive advantage in India and a competitive disadvantage in the US.
It is not often that we see such honesty reported in the international steel press. Surely it is time however for JSW to now bring in the strategy consultants?
For original FT report, visit http://www.ft.com/cms/s/0/d588cd92-d553-11df-8e86-00144feabdc0.html.
blogger@steelonthenet.com
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