Antonio
Marcegaglia |
Foreign companies
are looking to enter the Indian steel sector even
as domestic companies try to establish their presence
abroad. Marcegaglia, the ¤3.4 billion 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.
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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. An e-mail sent to
Marcegaglia on its detailed plans went unanswered.
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 five lakh 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 tonnes 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
tonnes and hot dip galvanising lines with one million
tonne 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 tonnes while India recorded 7.6 per cent increase
to 44 million tonnes.
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.business-standard.com
 Italian steel firm plans
high-end facility in India
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