With economic conditions slowly brightening up on the continent, Tata Steel Europe, which has been witnessing sales growth over the last quarters, has been strengthening its presence in the market by introducing 25-30 “differentiated products” in the last one year.
“The face of negative growth is successfully behind us,” Tata Steel Europe CEO & MD Karl-Ulrich Kohler told FE. He was in Jamshedpur to attend Tata Steel Founder’s Day celebrations.
After having made an investment of £350 million (R3,623 crore) in 2012-13 and an investment “slightly below” R350 million in the current year, Tata Steel Europe is now on the job of making upgradation investment in its existing units.
Tata Steel Europe, he said, was now also concentrating on gaining market share for the 25 to 30 “differentiated products” it would have introduced in the market by the end of the current year.
The new “differentiated products” cover sectors such as automotive, lifting & excavating, rail, packaging, energy & power, etc.
“They are all substantially improving our positioning in the market e.g we are specialists in head-hardened rail,” the Tata Steel Europe MD said.
Tata Steel India crowned at virtual steelmaking meet
Tata Steel’s Indian operations’ team, which last year won the regional championship, has gone on to win the world champion title at the recently concluded 8th virtual steel making challenge 2013-14. The grand finale took place last month (in February) at Brussels (Belgium).