Tayo Rolls announces Ground Breaking (Bhoomi Pujan) Ceremony for new plant

Tayo Rolls Ltd has announced that the Company and Yodogawa Steel Works Ltd & Nissho Iwai Corporation (since merged with Sojitz Corporation), Japan, having established itself as a leading Cast Iron and Steel Roll manufacturer, now enters into Engineering Forging and Forged Roll segment.

The Company has been in the Forged Roll market since 1999 through Finish machining of Rough turned hardened forged steel blanks, imported from USA. Having tested the domestic Forged Roll market and in order to cater to the increase in demand for Forged Rolls, the Company felt appropriate to have its own facility for manufacture of Forged Rolls. The Company is now puffing up integrated facilities for manufacture of Forging Quality Ingots (including round ingots), Forged Bars, Engineering Forgings and Forged Rolls. The total outlay for the project is estimated at Rs 142 crores. The plant would be coming up at the Company's present location, at Large Scale Industrial Estate, Gamharia, Jharkhand.

The project envisages setting up three modem facilities. A Ladle Furnace & Vaccum Degassing unit would be added to the existing Melt Shop consisting of MBF and Arc Furnace to manufacture Forging Quality Ingots, including round ingots. A modem Forge Shop with 2,500 tonnes open die forging press along with other auxiliaries would be set up for the manufacture of Engineering Forgings and Forged Roll Blanks. A state of the art Induction Hardening facility, a core requirement for Forged Rolls would also be set up along with other facilities like cryogenic treatment, heat treatment and machining facility to manufacture Forged Rolls.

The Company would be manufacturing Forging Quality Ingots, including round ingots, Engineering Forgings for oil, gas, wind mill and for other engineering application apart from Forged Rolls, With Tata Steel's acquisition of Corus, the Company would have greater opportunity to meet growing demand of Rolls within the Group.

To successfully adapt the required technology, the Company would tie-up with Sheffield Forgemasters International Ltd, United Kingdom, a leading Forged Roll and Engineering Forging manufacturer of international repute, for transfer of technology for the manufacture of Forging Quality Ingots upto 25 tonnes, Forged Rolls (Work Rolls and Back-up Rolls) and Engineering Forgings.

The "Bhoomi Pujan" ceremony for setting up the integrated facilities was performed on September 05, 2007, at the Company's Works, Gamharia, 16 km. away from Jamshedpur. Mr. B Mathuraman, Managing Director, Tata Steel, was the Chief Guest on the occasion. In his address while congratulating the Company, Mr. Muthuraman said that the company is taking right step at the right time to meet the growing need of steel sector. He advised that the Company should continue its endeavour to think Big and keep creating value to its various outputs. He appreciated the Company’s contribution to the steel industry globally by supplying high quality rolls and outstanding customer’s service, Mr Chairman, of the Company, welcomed the guests. The gathering was also addressed by Mr. Rakeshwar Pandey, President, the Company Workers Union and Mr. Geoff Marston, from Sheffield Forgemasters International Ltd., U.K.. Mr. Suzuki spoke on behalf of the Company’s co promoters, Yodogawa Steel and Sojitz Corporation. He reiterated their commitment to the Company for all its endeavours both technically and financially. Vote of thanks was given by Mr. Pradeep Srivastava, Managing Director, of the Company. Mr. Nisbimura from Yodogawa Steel Works and other Executives from Sojitz Corporation, Japan, were also present along with the Sr. Executives of Tata Steel and other Tata Steel associate Companies.

This would definitely go a long way in positioning the Company not only as a leading Cast Roll manufacturer but also would give a rare distinction to the Company in becoming a 'One stop shop' for all categories of rolls towards fulfilling the requirements / demand of the growing Steel Sectors, both domestic and overseas.

Source : Equity Bulls

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