Antonio
Marcegaglia |
Italian cold steel
re-roller and tube maker plans high-end steel facility
India - 2007 June 10 Foreign companies are looking
to enter the Indian steel sector even as domestic
companies try to establish their presence abroad.
Marcegaglia, the Italian cold steel re-roller and
tube maker, is planning to make a major investment
in India.
The company's chief executive officer
(CEO), Antonio Marcegaglia, recently made a statement
that the company was exploring ways to expand its
overseas production and was planning facilities
in India and China. |
Though not indicating
the quantum of investment, he said that the company
would make a major investment, focusing on the high-end
sector as it was doing in Poland.
Incidentally, the company had lined up three phases
of investment in south-west Poland, which would become
the second largest plant of Marcegaglia in Europe.
The Italian steel major had bought 500.000 square metres
in south-west Poland.
Marcegaglia has 47 plants, 49 sales offices, 150 agencies
and 3,500,000 square metres of manufacturing area.
The company processes 4.5 million tons of steel every
year and happens to be among the biggest service centres
in Europe. That apart, Marcegaglia has cold rolling
mills with a manufacturing capacity of two million
tons and hot dip galvanising lines with one million
ton capacity. The company's daily production equals
5,000 km of welded tubes, open profiles, drawn tubes,
panels, coil strips and sheets made from carbon steel,
stainless steel and aluminium, in every size and thickness.
Marcegaglia happens to be the seventh foreign company
to evince interest in India after Stemcor, Posco, Mittal
Steel, Sinosteel, Nippon Steel Corporation and Kobe
Steel. It's not surprising that Marcegaglia is looking
at China and India. According to the International
Iron and Steel Institute (IISI) figures for 2006, India
and China were the two fastest growing countries, among
crude steel producing countries.
China clocked in a growth of 17.7 per cent to 418.8
million tons while India recorded 7.6 per cent increase
to 44 million tons.
Further, IISI figures indicate that 10 years ago the
Asian region accounted for 38.4 per cent of all crude
steel produced.
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source:
www.stockhouse.com
 India:Marcegaglia, Italian cold steel re-roller
and tube maker plans high-end steel facility
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