New Delhi: Tata Steel may be in news for competing with Brazilian steelmaker CSN to acquire top European steelmaker Corus, but its biggest acquisition so far has been in the United States, where it is eyeing even more lucrative deals.
Out of the Tata Group's total annual international turnover of $6.7 billion, the United States already accounts for nearly 30 per cent.
Tata acquired 30 per cent share of US food and beverage firm Energy Brands Inc in August for nearly $700 million.
Tata Group’s Taj Hotels entered into a lease agreement to operate and manage The Pierre, the luxurious landmark hotel on New York's Fifth Avenue in 2005.
Tata's acquisition spree in the US for the year 2007 will begin with a January 11 takeover of the Ritz-Carlton Boston hotel from its current American owners, Millennium Partners, for $170 million.
The second US hotel property in 2007 of Tata's hotel chain Taj Hotels, Resorts and Palaces will be the Taj Boston.
Tata is also considering providing "cost-cutting alternatives" to America's ailing automotive industry.
Tata already has a joint venture to produce vehicle seat systems with US auto engineering firm Johnson Controls and a tie-up with top US diesel engine maker Cummins Engine Co to manufacture engines for the Indian market.
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