Bloomberg reported that Uttam Galva Steels Ltd the Indian venture of ArcelorMittal plans to increase production by 25% in the next financial year to meet domestic demand from carmakers and builders of rural homes.
Mr Ankit Miglani director of Uttam Galva said that output will rise to 1 million tonnes in the year ending March 31st 2011 from 800,000 tonnes in the current fiscal year.
He added that annual sales in India is growing as much as 19%.Mr Miglani said that “Rural demand has remained firm over the past several months. From roofs to furniture to cars, the usage of galvanized steel has increased.”
(Sourced from http://www.steelguru.com/news/index/2009/10/16/MTE2Mjgw/UGSL_to_increase_production_by_25pt_on_strong_demand.html)
Thursday, October 15, 2009
UGSL to increase production by 25pt on strong demand
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