Mumbai: Tata Steel will sell its cold rolling mill at Sisodra in Gujarat to Theis Precision Steel India for Rs67 crore. The two com0panies signed a sale agreement on 2 April.

However, the sale is subject to Theis completing certain conditions precedent by 30 April, Tata Steel said in a filing with the Bombay Stock Exchange (BSE).

Theis Precision is an indirect wholly-owned subsidiary of Friedr Gustav Theis Kaltwalzweke of Germany.

Tata Steel Ltd, meanwhile, said crude steel production of the company for the year 2006-07 has crossed five million tonnes.

Production of hot metal touched 5.55-million tones while crude steel production touched 5.05 million tones. Saleable steel production stood at 4.93-million tones, the company said in a statement.

The statement said production of rebars at Jamshedpur crossed one-million tonne mark, while the production of rebars in its Southeast Asian plants was another 1.7 million tonnes.

The newly acquired mills in Vietnam will raise the capacity by 0.4 million tonne per annum, the statement said.

Production at the cold rolling mill crossed 1.5-million tonne mark. for the first time as against its rated capacity of 1.2 million tonnes.

Tata Steel reported record sales for both flat and long products during the financial year. The company sold flat product totalling 0.85 million tonne, registering 28 per cent over the previous year.

The company sold branded products worth Rs4,479 crore, which is 17 per cent higher than the previous year. While, branded rebars - Tata Tiscon- sales were Rs1,100 crore.