Bhushan Steel Limited is Tata Steel BSL Limited now
With effect from November 27, 2018, Bhushan Steel Limited (“Company”) is renamed as Tata Steel BSL Limited. The Ministry of Corporate Affairs, Government of India has accorded its formal approval for this on the same date.
The name change is part of the process to integrate the Company’s operations within the Tata Steel fold and to align to the Tata brand and also to give the Company a singular identity with the Tata Group.
On May 18, 2018, Bamnipal Steel Limited (BNPL), a wholly-owned subsidiary of Tata Steel, acquired a controlling stake of 72.65% in the Company. The acquisition was in accordance with the approved Resolution Plan under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016.
About Tata Steel
Tata Steel BSL Limited is India's fifth largest flat steel producing company with an existing steel production capacity of 5.6 million tonnes per annum (MTPA) as on March 31, 2018. It has India’s largest Cold Rolled Steel Plant and is one of the largest suppliers of automotive grade and high carbon special steel in the country. Tata Steel BSL recorded a gross revenue of US $ 2675.79 Million (INR 17,404 crore) in FY18. The organisation is spread across India with an employee base of over 5,600.
The Company was felicitated with several awards including Global Safety Award 2016 by Energy and Environment Foundation for outstanding achievement in implementing Prime Minister of India’s Swachha Bharat Mission, Environment Excellence Award 2016 from Indian Chamber of Commerce (ICC) Kolkata for its exemplary environment performance, Appreciation award for pollution control for 2016 by Odisha State Pollution Control Board, Ispat Suraksha Puraskar 2018 (for the performance year 2016-17) organized by the 'Joint Committee on Safety, Health & Environment in the Steel Industry' (JCSSI).
Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.