Tata Steel celebrates its 114th Foundation Day
~ The Company was established on August 26, 1907 ~
Tata Steel today celebrated its 114th Foundation Day with much fervour. 113 years ago, on August 26, 1907, Tata Steel was registered in India as Tata Iron and Steel Company (TISCO). In 1908, the construction of the Jamshedpur Works began and the steel production started on February 16, 1912.
On the occasion, T. V. Narendran, CEO & MD, Tata Steel, said, “We are here today because our predecessors created a tomorrow. There is a responsibility for us to create a tomorrow and leave a legacy behind for future generations. I want Tata Steel to be seen as an organisation that is leading the way and setting the trend on sustainability.”
The origin of Tata Steel lies in J N Tata’s endeavour to usher industrialisation and therefore economic independence for India. After the death of the J. N. Tata - founder of Tata group, his eldest son Sir Dorabji Tata took over the mantle to unfold the vision of his father. Sir Dorabji Tata gave shape to the vision of India, strengthened by Steel and Power. He appealed to the nation to be part of the grand plan to build a steel plant in India. He inspired 8000 Indians to join him in the journey to industrialisation. The response to the call for a ‘Swadeshi’ (Indian) entity was overwhelming, and within three weeks the entire amount was raised. On August 26, 1907, after a period of due diligence, Tata Steel was registered in India as Tata Iron and Steel Company (TISCO) with an original capital of Rs 2,31,75,000.
With the vision to contribute towards shaping the nation, Tata Steel, even after 113 years, continues to be a reliable and responsible partner in the nation’s progress. The Company has navigated through the ebb and flow of wars and pandemics, and highs and lows of the industry, which have strengthened its resolve and resilience. Today, as India takes confident strides towards economic ‘self-reliance’, the Company remains committed to move forward on its intertwined growth journey. Tata Steel’s desire to imagine, innovate and co-create a future with infinite possibilities is reflected in its efforts to look beyond steel, adopt next-generation technologies and make a meaningful positive impact on over a billion lives.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. The group (excluding SEA operations) recorded a consolidated turnover of US $19.7 billion in the financial year ending March 31, 2020.
A Great Place to Work-CertifiedTM organisation, Tata Steel Ltd., together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of over 65,000.
Tata Steel was recognised as DJSI steel sector leader in 2018 and has ranked fourth in the steel sector in 2019. Besides being a member of the worldsteel’s Climate Action Programme, Tata Steel has won several awards and recognitions including the World Economic Forum’s Global Lighthouse recognition for its Kalinganagar Plant - a first in India, and Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India’s most valuable Metals & Mining brand by Brand Finance, received the ‘Honourable Mention’ at the National CSR Awards 2019, Steel Sustainability Champion 2019 by worldsteel, CII Greenco Star Performer Award 2019, ‘Most Ethical Company’ award 2020 from Ethisphere Institute, and Best Risk Management Framework & Systems Award (2020) by CNBC TV-18, among several others.
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.
Chief, Corporate Communications-India & SEA