Tata Steel Limited (BOM:500470)

QUOTE AND NEWS
DailyFinance  Mar 27  Comment 
CALGARY, ALBERTA -- (Marketwired) -- 03/27/14 -- New Millennium Iron Corp. ("NML" or the "Corporation") (TSX: NML) (OTCQX: NWLNF) announced today the results of the techno-economic viability of the Taconite Project Feasibility Study ("the...
DailyFinance  Nov 28  Comment 
CALGARY, ALBERTA -- (Marketwired) -- 11/28/13 -- New Millennium Iron Corp. (TSX: NML)(OTCQX: NWLNF) ("NML" or the "Corporation") today provided an update on the progress of the Taconite Project Feasibility Study ("TFS"), which is being jointly...
The Hindu Business Line  May 14  Comment 
India’s Tata Steel Limited’s shares fell today by 2.5 per cent after it announced a $ 1.6 billion write-down brought on by the state of the European economy. “The impairment is primarily...
The Hindu Business Line  Jun 22  Comment 
Tata Steel Limited, which had completed a full and final settlement of claims with the consortium of former offtakers of its subsidiary Tata Steel UK Limited (TSUK), has received an aggrega...
Commodity Online  Aug 16  Comment 
Tata Group leader Tata Steel LTd (BOM:500470) will increase its steel manufacturing capacity in the country by three fold from the current 7 million tonnes per annum (MTPA) to 21 MTPA over next one year.
Commodity Online  Nov 12  Comment 
Tata Steel Ltd (BOM: 500470) traded in red even as the company today announced the approval of an exchange offer for existing securities into foreign currency convertible bonds (FCCB).
Commodity Online  Aug 27  Comment 
Indian steel major TATA Steel Ltd. (BOM: 500470) is moving to its flag ship brand in TATA Agrico to strike up momentum in its share in the rapidly growing market for mechanized farm equipment.





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Tata Steel, formerly known as TISCO (Tata Iron and Steel Company Limited), is the world's 5th largest and India's largest steel company with an annual crude steel capacity of 28 million tonnes. It is a Fortune Global 500 company with a rank of 315. It is based in Jamshedpur, Jharkhand, India. It is part of Tata Group of companies. Tata Steel is also India's second-largest and second-most profitable company in private sector with consolidated revenues of Rs 1,32,110 crore and net profit of over Rs 12,350 crore during the year ended March 31, 2008.

Its main plant is located in Jamshedpur, Jharkhand, with its recent acquisitions, the company has become a multinational with operations in various countries. The Jamshedpur plant contains the DCS supplied by Honeywell.The registered office of Tata Steel is in Mumbai. In the year 2000, the company was recognised as the world's lowest-cost producer of steel. The company was also recognized as the world's best steel producer by World Steel Dynamics in 2005. The company is listed on BSE and NSE; and employs about 82,700 people (as of 2007).

History

Tata Steel was established by Indian Parsi businessman Jamshetji Nusserwanji Tata in 1907 (he died in 1904, before the project was completed)[1]. Tata Steel introduced an 8-hour work day as early as in 1912 when only a 12-hour work day was the legal requirement in Britain. It introduced leave-with-pay in 1920, a practice that became legally binding upon employers in India only in 1945. Similarly, Tata Steel started a Provident Fund for its employees as early as in 1920, which became a law for all employers under the Provident Fund Act only in 1952. Tata Steel's furnaces have never been disrupted on account of a labour strike and this is an enviable record.

Acquisitions

  • In August 2004, Tata Steel entered into definitive agreements with Singapore based NatSteel Ltd to acquire its steel business for Singapore $486.4 million (approximately Rs 1,313 crore) in an all cash transaction.
  • In 2005, Tata Steel acquired 40% Stake in Millennium Steel based in Thailand for $130 million (approx. Rs 600 crore).
  • In 2007 Tata Steel through its wholly owned Singapore subsidiary, NatSteel Asia Pte Ltd acquired controlling stake in two rolling mills: SSE Steel Ltd, Vinausteel Ltd located in Vietnam.
  • On January 31 2007 Tata Steel won their bid for Corus after offering 608 pence per share, valuing Corus at £6.7 bn ($11.3bn); as a result and pending acceptance and completion of the takeover, the joining of the two will create the fifth largest steel company in the world. Corus itself was created in 1999, as a result of the merger of the UK's British Steel with Koninklijke Hoogovens of the Netherlands.[2]



References

  1. History of Tata Steel
  2. History of British Steel and Corus
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