JSW Steel agrees to buy US-based Acero Junction for $81 million

India`s JSW Steel Ltd said on Thursday it agreed to buy Acero Junction Holdings for $80.85 million, as it looks to expand its operations in the United States. JSW Steel entered into a stock purchase agreement on Wednesday with JSM International Ltd, Acero Junction Holdings Inc and Acero Junction Inc for the acquisition, the steelmaker said in a statement. 

The deal comes shortly after the steelmaker`s U.S. unit signed an agreement on Monday with the Texas governor`s office to invest $500 million to build out its operations in Texas, amid heightened global trade tensions following U.S President Donald Trump`s decision to pursue steep import tariffs.