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🇪🇪 Estonia /Conflict & Security

Indian steelmaker distances itself from failed ammunition deal

From Postimees · () Estonian

Translated from Estonian and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement Context piece
  • Jayaswal Neco Industries said Datasel SRL is not its subsidiary or affiliated company.
  • The Indian listed steelmaker said it had no connection to the transactions that led to Estonian Defence Minister Hanno Pevkur's resignation.
  • It said Datasel belongs to Neco Defence Munitions, a legally separate company in the same ownership group.

Jayaswal Neco Industries has distanced itself from the transactions that led to Estonian Defence Minister Hanno Pevkur's resignation, saying it had no connection to the deal.

In a statement, the Indian listed steelmaker said the Italian company Datasel SRL is neither its subsidiary nor its affiliated company.

Jayaswal Neco Industries said Datasel is owned by Neco Defence Munitions. Although Neco Defence Munitions belongs to the same ownership group as Jayaswal Neco Industries, it is legally independent and separate from the listed company.

About this summary

Originally published by Postimees in Estonian. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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