Mumbai-based Uttam Galva Steels (UGSL), the country's
second largest galvanised steel manufacturer, has bagged
a $170-million order from global steel and raw material
distributor Stemcor to supply cold rolled, galvanised
and colour coated steel.
deal is for the supply of steel over three years, and
the Indian company will fix the price of its products
every quarter, factoring market dynamics during the tenure
of the agreement. The annual volume of Supply to Stemcor
will be approximately 10-12 per cent of the yearly turnover
(as of March 2005) of Uttam Galva Steels.
had closed FY 2005 with a net profit of Rs95 crore on
gross sales of Rs215 crore.
to Ankit Miglani, director, UGSL, "The order signals,
in some ways, the bullish undercurrents in the global
Today has ranked UGSL as India's fourth fastest growing
company and 71st most valuable private sector company
(issues dated March 13, 2005 and December 4, 2005
April it had commissioned it's a state-of-the-art 6-HI
reversible cold rolling mill, which is part of its Rs350-crore
expansion plan, to manufacture import substitute-grade
finished cold rolled sheets for the automobile and white
goods industry. In the auto sector it supplies steel to
Bajaj Auto, Bajaj Tempo, M&M, Kirloskar, Crompton,
new cold rolling mill will increase UGSL's annual cold
rolling capacity to 750,000mt.to be augmented to 1-million
tons in 2006.
exports sells about 70 per cent of its galvanised steel
per cent of its cold rolled steel to most various countries
that also include the US, China and the European markets.