Tata Steel on Monday unveiled a new brand of its hot rolled products called \"Tata Astrum\" to meet demands in small and medium enterprises (SMEs). This is the first time that the company has made a foray into branding of hot rolled products in the SME se
Tata Steel on Monday unveiled a new brand of its hot rolled products called "Tata Astrum" to meet demands in small and medium enterprises (SMEs). This is the first time that the company has made a foray into branding of hot rolled products in the SME segment.
T. V. Narendran, Vice President, safety and flat products, Tata Steel, talking about the launch at a press conference said, "With the launch of Tata Astrum, Tata Steel is offering convenience to its customers through consistent availability of ready-to-use quality hot rolled products."
Tata Astrum hot rolled coils and sheets will be produced from two of Tata Steel's mills at Jamshedpur and will be available in the 1.6 mm to 16 mm thickness range.
Customers will be served through Tata Steel's authorised distributors. A total of 42 such distributors have been appointed across the country, added Narendran.
Each distributor will have a tie-up with service centres that will be certified by Tata Steel for quality products. The material will be supplied to customers in processed form out of the service centres, he said.
The new product range will be used in automotive, earth moving equipment, railways, fabrication, construction and industrial machinery segments.
The size of the domestic market for hot rolled products in the SME segment is pegged at 6 million tonnes per annum. Tata Astrum hopes to garner a market share of 17-18 per cent in this segment in 2013-014.
“The company target to sell over one million tonnes of the new brand product in 2013-14 and increase it to two million tonnes in the next year,” said Narendran.
Tata Steel is targeting revenue of nearly Rs 4,000 crore from this segment by 2013-14.