Monday, April 06, 2009

Tata Steel Recorded 9% Increase in Yearly Sales despite Economic Slump

Global economic slowdown is being aggravated day by day and it has already starting making its impact in India too. Many companies are struggling to contend with the weakening domestic economy and a large number of people are in fear over their job security. Amidst all these threatening news, Tata Steel has announced something positive at last.

Tata Steel, one of the leading steel manufacturers in India, has recorded 11% increase in saleable steel as the total volume of steel production reached at 5.3 million tonne(mt) during 2008-09 fiscal year. An 14% increase has been seen in hot metal reaching the production at 6.2 mt during the same period. Tata Steel also experienced 9% jump in its sales with the total sold volume being 5.2 million tones, a sharp increase from 4.7 mt of steel sold in the previous fiscal year. Recently launched ‘H’ blast furnace has been instrumental behind a successful year as it has already exceeded its yearly target. Tata Steel was awarded the Deming Award for its Total Quality Management(TQM), and thus, becoming the first steel company outside Japan to win this award.

Well, it is really very special case that Tata Steel grew their business this year and saw an increase in its sales and production during a year which is marked with deeming economy.

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