Tata Ryerson hopes to double revenues to Rs 2,500 cr by '10
Tata Ryerson, a joint venture between Tata Steel and Ryerson of the US, is looking to double revenues to Rs 2,500 crore by 2010, riding on the demand for its high-value processed steel from Tata Nano and Tata ACE, among others.
By TNN |
KOLKATA: Tata Ryerson, a joint venture between Tata Steel and Ryerson of the US, is looking to double revenues to Rs 2,500 crore by 2010, riding on the demand for its high-value processed steel from Tata Nano and Tata ACE, among others.
A substantial part of the hike in revenues will come from its new production facilities in Singur, Pantnagar and Chennai, where it is investing Rs 200 crore for original equipment manufacturers (OEMs) like Tata Motors and Caterpillar.
“We have been involved in R&D for Nano and we are betting on volumes to achieve margins in the long run. Initially, our margins from Nano may be small,” Tata Ryerson MD Sandipan Chakravortty said at a press meet in the city.
The company is supplying the very backbone for the Tata Nano, a critical auto component commonly referred to as the ‘chassis’. Tata Ryerson Steel Service Centre, a new Rs 100-crore production facility coming up in Singur to cater to Nano, will be ready by March 2009, he added.
“We are keen to participate in the Tata Motors project,” Tata Ryerson chairman Frank Munzo said. Ryerson, which has a similar JV in China, also supplies specialised auto grade steel to ‘Chery QQ3’, touted as China’s small car.
"We hope to step up synergy between our ventures in the two countries, especially in terms of people resources," said Mr Munzo, who relocated to Hong Kong a year ago to set up the China facility.
A substantial part of the hike in revenues will come from its new production facilities in Singur, Pantnagar and Chennai, where it is investing Rs 200 crore for original equipment manufacturers (OEMs) like Tata Motors and Caterpillar.
“We have been involved in R&D for Nano and we are betting on volumes to achieve margins in the long run. Initially, our margins from Nano may be small,” Tata Ryerson MD Sandipan Chakravortty said at a press meet in the city.
The company is supplying the very backbone for the Tata Nano, a critical auto component commonly referred to as the ‘chassis’. Tata Ryerson Steel Service Centre, a new Rs 100-crore production facility coming up in Singur to cater to Nano, will be ready by March 2009, he added.
“We are keen to participate in the Tata Motors project,” Tata Ryerson chairman Frank Munzo said. Ryerson, which has a similar JV in China, also supplies specialised auto grade steel to ‘Chery QQ3’, touted as China’s small car.
"We hope to step up synergy between our ventures in the two countries, especially in terms of people resources," said Mr Munzo, who relocated to Hong Kong a year ago to set up the China facility.
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