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| Hyundai honours Tata Steel with
Localisation Award |
Orders are definite indications of faith
and confidence from a customer. Tata Steel recently received an award and its first export
order for direct supplies to an International Auto manufacturer from two different
customers.
Hyundai Motors recognised the support
extended by the company in helping the auto manufacturer convert a major portion of its
imports of steel into local purchases and achieve its target for the year 2002 with the
"Best Localisation Award". The award was conferred on Tata Steel at the Hyundai
Motors Vendor Meet held at Chennai on June 25, 2003. A memento and a merit certificate was
received by Mr Anand Sen on behalf of the Company.
Despite stiff competition from steel majors
including Nippon Steel, POSCO and JFE, Tata Steel was able to bag an export order from
PROTON, Malaysia. The order is an annual contract for supply of a part of PROTON's annual
requirement of 60,000 tonnes of CRCA Coils for the year. During this period, the company
hopes to establish the quality of its product and service with the customer so as to
substantially increase its share in PROTON's purchase next year. Initial trial supplies
will begin in September 2003.
Tata Steel expects to become a preferred
supplier to the global automotive segment given its emphasis on enriching its product mix
and bringing in automotive applications. The primary end-use of products from Tata Steel's
state-of-the-art Cold Rolling Mill are automotive applications and the current order from
PROTON will allow the company to establish itself as a preferred supplier. |