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Tata Steel mulls to bring European made high end steel products to India
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It is reported that Tata Steel is considering to bring specialty steel made by its European facilities to India, in order to help the company’s European subsidiary to new market.
The company’s managing director H.M. Nerurkar says that the European facilities have high technology products and confirms they are planning to bring those products which are currently being imported to India. Since India is importer of this special steel product, its European division has a market in the country.
He indicates the company is in the process of finalizing quality and grades of the product and selecting potential customers of this specialty product. They will come out a conclusion within two months.
Tata Steel’s European business contributes 61 % of its total revenue, but it reported a net loss of Rs 42.4 billion during 2011 and 2012, on the other hand, its India business registered a profit of Rs. 47.0 billion in the same period.
News Date
7/30/2012 8:40:24 AM
reported by
Raul Lee
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