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Tata Steel is not only India’s but Asia’s first integrated steel plant. Globally it is among top two geographically diversified steel manufacturing facilities. Tata Steel has manufacturing set ups in 26 nations and presence in about 50 overseas locations. Tata Steel aims at becoming steel industry benchmark for ‘value creation and corporate citizenship’.
Brief history
Tata Steel was established in 1908 as Tata Iron and Steel Company Limited in Jamshedpur. Grit and determination of Sri Jamshetji Nusserwanji Tata, founder of Tata group, helped this company to overcome several barriers. Sir Dorabji Tata, son of Sri J.N. Tata set up an iron and steel manufacturing facility in Jamshedpur. Tata group was laid on principles of straightforward business practices, welfare and health of employees and protection of shareholders’ interests.
Production capacity of Jamshedpur works of Tata Steel is 6.8 MTPA.
Products and services
Tata Steel produces steel in various forms like construction bars, hot and cold rolled coils and sheets, wire rods, galvanized sheets, bearings, and tubes. Its branded products include ‘Tata Shaktee’ galvanized corrugated sheets, ‘Tata Steelium’ cold rolled steel, ‘Tata Tiscon’ re-bars, ‘Tata Wiron’ galvanized wire products, ‘Tata Structura’ construction material, and ‘Tata Agrico’ implements and hand tools.
Round bars and deformed bars required for construction purposes are produced by Tata Steel Thailand. NatSteel manufactures mesh, PC wires and strands, construction grade steel bars, pre cage bore pile and cut-and-bend cages.
Financials
Tata Steel for financial year April 2007 – March 2008 earned profits of around US $0.97 billion from sales amounting to about US $5.83 billion. Asset worth amounted to nearly US $11.48 billion in this same time period.
Awards and recognition
Tata Steel India was awarded Deming Application Prize in 2008 for ‘total quality management’. This company was conferred ‘World’s Best Steel Maker’ title by World Steel Dynamics in 2006. Tata Steel was awarded ‘Prime Minister of India’s Trophy’ for best integrated steel plant on five occasions.
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Current financial crisis
Global financial market crisis has led to a drop in demand for steel and related products. But Tata Steel has expressed optimism about retaining its position as one of world's largest steel makers. According to media reports, in October 2008, company Vice-President (corporate services), Partho Sengupta claimed that Tata Steel was strategically well placed to handle current financial crisis.
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