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History of Tata Steel

History of Tata Steel

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Published by manoj rakesh
A briefinformation about tata group company.
A briefinformation about tata group company.

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Published by: manoj rakesh on Oct 30, 2009
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History of Tata steel
MKRakesh(Ph.D Scholar)Mahatma Gandhi Kashi Vidya peethVaranasi-220002 mkrakesh@rediffmail.com
The Tata Group is almost 150 years old. It currently comprises 96 operatingcompanies, which together employed some357,000
 
 people worldwide andhad revenues of US$ 72.5 billion
(Feb 2009) billion in 2008-09. Tata isactive in seven major business lines: information systems andcommunications, engineering, materials, services, energy, consumer  products and chemicals. Its 28 publicly listed companies have a combinedmarket capitalisation of US$47.6 billion that is the second highest amongIndian business houses in the private sector, and a shareholder base of over 2million. The Group has operations in more than 54 countries and itscompanies export products and services to 120 nations.
Tata Steel
(BSE:500470), formerly known as
TISCO
and
Tata Iron andSteel Company Limited
, is the world's sixth largest steel company, with anannual crude steel capacity of 31 million tonnes. It is the largest privatesector steel company in India in terms of domestic production. Ranked 258thonFortune Global 500, it is based inJamshedpur ,Jharkhand,India.
It is part of Tata Groupof companies. Tata Steel is also India's second-largestand second-most profitable company in private sector with consolidatedrevenues of Rs 1,32,110croreand net profit of over Rs 12,350 crore duringthe year ended March 31, 2008.
Its main plant is located in Jamshedpur, Jharkhand, with its recentacquisitions, the company has become amultinationalwith operations invarious countries. The Jamshedpur plant contains the DCS supplied byHoneywell.The registered office of Tata Steel is inMumbai. The company was also recognized as the world's best steel producer by World SteelDynamics in 2005.
Tata Steel annually produces 18 million tonnes of steel in India and 52.32million tonnes overseas, making it the fifth largest steel producer in the
 
world. It produced a record-breaking 10.32 million tonnes of salable steel initsJamshedpur works in 2009-10. The company'sgross revenuein that financial reporting year was Rs. 20196.24crores. ItsPBTwas Rs.621261.65 crores andPATwas Rs.422212.15 crores in the same yar. In the year 2000,the company was recognised as the world's lowest-cost producer of steel..Tata Steel Limited, incorporated in 1907 by Shri Dorabji Tata, is India'slargest private sector steel company belonging to the Tata Group. Thecompany manufactures finished steel, both long and flat products like hotand cold rolled coils and sheets, galvanized sheets, tubes, wire rods,construction re-bars, rings and bearings. The company markets its productsin brands like "Tata Steelium, Tata Tiscon, Tata Pipes, etc. The company isamong the lowest cost producers of steel in the world. Its main plant islocated in Jamshedpur, having a manufacturing capacity of 5 MTPA (milliontonne per annum) while its processing units, captive iron ore and coal minesare located in the states of Orissa, Jharkhand, Maharashtra, Gujarat and WestBengal. With its head office located in Mumbai, the company functionsthrough a network consisting of trading arms and operation and projectssites spread across countries in the continents of Asia, Europe and America.Apart from Steel there are six Strategic Business Units or divisions for Bearings, Ferro Alloys and Minerals, Rings and Agrico, Tata Growth Shop,Tubes, and Wires.It operates in more than 20 countries and has a commercial presence in over 50. In the past few years, Tata Steel has invested in Corus (UK),Millennium Steel (renamed Tata Steel Thailand) and NatSteel Asia(Singapore). With these, the company has created a manufacturing andmarketing network in Europe, South East Asia and the Pacific-rim countries.Tata Steel is among the lowest cost producers of steel in the world and oneof the few select steel companies in the world that is EVA+ (EconomicValue Added). Its captive raw material resources and the state-of-the-art 4.9mtpa (million tonne per annum) plant at Jamshedpur, in Jharkhand State,India gives it a competitive edge. With the acquisition of Corus, Tata steelhas become the fifth largest steel maker in the world. Soon the Jamshedpur  plant will expand its capacity from 4.9 mtpa to 7 mtpa by 2008.
 
The Company plans to further enhance its capacity, manifold throughorganic growth and investments. Its associated / subsidiaries constitutesabout 24 mtpa making it’s total capacity about 29mtpa which is the fifthlargest in the world. Out of this the steel business comprising of FlatProducts, Long Products, RM Division, CSI Division, Shared Servicesconstitutes 85% of its business. The rest comprising of Tubes, Bearings,Agrico Products constitutes the rest 15% business.Tata Steel was established by Indian businessmanJamshedji Nusserwanji Tatain 1907 (he died in 1904, before the project was completed). Tata Steelintroduced an 8-hour work day as early as in 1912 when only a 12-hour work day was the legal requirement inBritain. It introduced leave-with-payin 1920, a practice that became legally binding upon employers in India onlyin 1945. Similarly, Tata Steel started aProvident Fundfor its employees asearly as in 1920, which became a law for all employers under the
only in 1952. Tata Steel's furnaces have never been disrupted onaccount of a labour strike and and this is an enviable record.How it all started?By the end of 19th century, US steel output exceeded Britain’s andPittsburgh was the centre of the steel industry. Jamsetji met steel makers inPittsburgh to get the most advanced technology for his plant.The Road to Sakchi Began in Pittsburgh ...Guts and determination saw a pioneer build India’s first steel plant in theearly part of the 20th Century. It is said that he got the idea of building asteel plant when he heard Thomas Carlyle declaring that "the nation whichgains control of iron soon acquires the control of gold" in a lecture inManchester.At the turn of the nineteenth century, JamshedjiTata went to Pittsburgh and asked geologistCharles Page Perin to help him find the site to build his dream - India’s first steel plant. Thesearch for a site rich in iron, coal, limestone andwater began in April 1904 in today’s Madhya Pradesh. The intrepid hunterswere C M Weld, Dorab Tata and Shapurji Saklatvala. It took nearly threeyears of painstaking prospecting across vast stretches of inhospitable terrain

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