Tata Steel launches Ferro Manganese brand
Integrated private sector steel company, Tata Steel recently launched two new products, Tata Ferromag (branded Ferro Manganese) and Tata Tiscrome (branded Ferro Chrome) under the company's Ferro Alloys and Minerals Division, here.
Speaking on the occasion, D B Sundara Ramam, Executive-In-Charge, Ferro Alloys and Minerals said, "As a part of our promise to deliver innovative quality products to the market, we are proud to announce the launch of Tata Ferromag and Tata Tiscrome."
Ramam said, "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 and 1 Mt HDPE bags which have tear proof labels ensuring bag wise traceability across the value chain, the company informed.
Tata Steel targets 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 a 38 percent share in domestic market with Tata Tiscrome in FY 15 while Tata Ferromag is targeted at 10 percent in FY 15, officials said.
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 the production of carbon and 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, the company noted.
Earlier, 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, the officials said.
(Posted on 16-01-2014)