Tata Steel launches India's First Ferro Manganese and Ferro Chrome Brands
~Steel major adds TATA FERROMAG and TATA TISCROME to its brand portfolio~
Tata Steel has always endeavored to serve its customers with innovative products and superior quality. Continuing with its journey of excellence Tata Steel yesterday launched two new products, TATA FERROMAG (branded Ferro Manganese) and TATA TISCROME (branded Ferro Chrome). The launch of new products coming from Tata Steel's Ferro Alloys & Minerals Division will help Tata Steel to add to its host of branded products.
Speaking on this occasion, Mr. D B Sundara Ramam, Executive-In-Charge, Ferro Alloys & Minerals said, "As part of our promise to deliver innovative quality products to the market, we are proud to announce the launch of TATA FERROMAG & TATA TISCROME. These brands fulfill the long-felt market need of committed availability to customers along with product consistency and guaranteed chemistry, weight and size of alloy. Authorized distributors across the country will ensure that customers have the convenience of purchasing the product when they want it, how they want it and where they want it."
The products will be sold in branded 50 kg & 1 MT HDPE bags which have tear proof labels ensuring bag wise traceability across the value chain. Tata Steel is targeting the market size of 300,000 mt a year in India for both TATA TISCROME and TATA FERROMAG. In terms of market share, Tata Steel will be targeting 38% share in domestic market with TATA TISCROME in FY 15 while TATA FERROMAG is targeted at 10% in FY 15. The two newly launched brands will be available across distribution centres in India. Tata Steel is rolling out the product in Gujarat, Maharashtra, NCR, Rajasthan, Odisha and West Bengal, which are the major consumption centres.
Ferro Chrome and Ferro Manganese are Ferroalloys widely used as alloying agents in production of Carbon & Stainless steel. Ferro Chrome provides corrosion resistance thus increasing the life of stainless steel, while Ferro Manganese provides the necessary toughness and hardness to steel. The introduction of the two brands will ensure customers are able to reduce on the inventory holding, get guaranteed quality leading to minimal wastage of heat and customized sizes leading to easier handling of the material.
During the launch, the logos for the products were also unveiled.
Tata Steel pioneered the launch of the first branded ferroalloy in the world with TATA SILCOMAG in the year 2012. TATA SILCOMAG has been well received by customers and is currently selling in 10 states across the country.
About Ferro Alloys & Minerals Division
Tata Steel Limited discovered Chrome and Manganese ore in India and developed the first chromite mines in India. It pioneered manganese alloy making in India by setting up one of India's first Ferro Alloy Plants in 1958 at Joda, Odisha. The plant, which was subsequently modernised and expanded, is the oldest continuously operating Ferro Alloy unit in India.
Tata Steel's Ferro Alloys & Minerals Division (FAMD) is the leading Manganese Alloy producer in India and the 4th largest Chrome Alloy producer in the world, with production units in India and South Africa. It has an integrated value chain - starting from mining, beneficiation, Ferro Alloy production to marketing & sales.
FAMD enjoys long term relationships with most reputed world players in premium geographies viz. Japan, South Korea, Europe etc. FAMD is also known for its focus on service reliability, customized offerings and consistent quality.
Backed by state-of-the-art quality control laboratories and a full-fledged R & D unit, FAMD has been at the forefront of Ferro Alloys development in India.
About Tata Steel
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top-ten global steel companies with an annual crude steel capacity of over 29 million tonnes per annum (MnTPA). It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of US$ 24.82 billion in FY 13, has over 80,000 employees across five continents and is a Fortune 500 company. The Group's vision is to be the world's steel industry benchmark in "Value Creation" and "Corporate Citizenship" through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspiration targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management. In 2012, Tata Steel became the first integrated steel company in the world, outside Japan, to win the Deming Grand Prize 2012 instituted by the Japanese Union of Scientists and Engineers.