FILLED WITH ACQUISITIONS, ISPAT LOOKS AT GROWTH FROM WITHIN
Article Abstract:
Ispat International NV, promoted by Mr LN Mittal, has made a series of acquisitions in the last one year. It has completed its $357 million capital expenditure programme by setting up Ispat Mexicana and Caribbean Ispat. It plans to evaluate and identify growth opportunities within its own group. Ispat Mexicana has commissioned a sponge iron module of 1.2 million tonnes per annum (tpa). Caribbean Ispat is also in the process of commissioning a 1.4 million tpa module. The Ispat group plans to invest $440 million in 1998 and 1999. The group is investing $40 million for setting up a 1.3 million tpa billet caster in its long products division, recently bought from Thyssen. The group had also acquired Inland Steel of the US recently. Its cost of steel production at Ispat Mexicana has declined to $167 a tonne now from $253 per tonne. (rk)
Comment:
Makes series of acquisitions in last one year & completes its $357 mil capital expenditure program
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SALEM STEEL AHEAD IN RACE TO ACQUIRE ISO 14001 TAG
Article Abstract:
The Salem Steel Plant (SSP) of the Steel Authority of India (SAIL) is trying to get the IS0 14001 certification. SSP is implementing an Environment Management System (EMS) that is necessary for securing the ISO 14001 certification. The other steel companies trying to get the certification include Tata Iron and Steel Company Ltd (Tisco). EMS is also being implemented at the plate mill of the Bhilai Steel Plant (BSP) and the Dalli iron ore mines for securing ISO 14001 certification. SAIL will also implement EMS at its Maghahutuburu iron ore mines in Bihar, the Rourkela Steel Plant (RSP) in Orissa and the Alloy Steel Plant at Durgapur in West Bengal. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SAIL OFFERS STEEL TO HSCL TO SETTLE DUES
Article Abstract:
Steel Authority of India Ltd (SAIL) owes Rs130 crore to Hindustan Steelworks Construction Ltd (HSCL) out of the latter's total dues of Rs262 crore. Almost 80 percent of HSCL's employees have not been paid their wages since June 1998 due to lack of funds. In order to ease the situation and enable workers to get their pay, SAIL has offered Rs2 crore worth steel to HSCL. (nr)
Comment:
Steel Authority of India Ltd (SAIL) owes Rs130 crore to Hindustan Steelworks Construction Ltd (HSCL) out of the latter's total dues of Rs262 crore.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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