Uttam Galva Steels has reportedly witnessed recovery in the sale of its products in the European and US markets.
The company, which is an associate of ArcelorMittal, realised 40 per cent of its Rs 5,475 crore total turnover from exports in the last financial year. ArcelorMittal holds 34.42 per cent stake in the firm.The firm exports cold rolled and galvanised steel products to the European and US markets.
The firm feels that economic condition has shown some signs of revival in US, Russia, and CIS countries, which has provided a marginal boost to international business.
By the end of financial year 2013-14, the firm aims to stabilise its exports at 50 per cent, a leading official of the firm is quoted as saying in a media. Prior to the 2008 global recession, exports contributed 70 per cent of the companyÂ’s revenues while 30 per cent came from the domestic demand.
The firm moved up the value chain with 28 per cent growth in construction and engineering segments.
Uttam Galva Steels has manufacturing facilities in Maharashtra with an installed capacity of one million tonne annually. It exports value added steel products to 148 countries.
Leave a Reply
You must be logged in to post a comment.