Mahindra Auto Steel Inaugurated its Auto Steel Service Centre at ChakanPune
CORPORATE/AUTO
by Shrutee K/DNS
Mumbai,
September 16, 2015: Mahindra Auto Steel, a
subsidiary of Mahindra
Intertrade, part of the USD 16.9 billion Mahindra Group, today announced the
opening of its automotive steel processing facility in the auto belt ofChakan, near Pune, Maharashtra. This
state-of-the-art facility is a joint venture with China Steel Global Trading Corporation, Taiwan and Mitsui & Co. (Asia Pacific) Pte. Ltd.,
Singapore. While Mahindra Intertrade holds 51% in the JV, the other
partners hold 24.5% each.
The facility has
been set up at a cost of Rs 110 crore (USD 17 million) in Phase I, over 10
acres of land,with an annual processing capacity of 100,000 tonnes. This plant is the 7thsteel
service centre in the Mahindra Intertrade family, its 3rdin the Pune
region, and its 3rdautomotive steel processing facility.
Equipped with a state-of-the-art Blanking Line from
FagorArrasate of Spain, India’s first servo line, this facility will offer
automotive customers in the Pune region the entire bouquet of services such as
sourcing, warehousing, yield optimization, forex risk management and SKU-wise JIT
delivery, and products such as blanks, trapezoids and profiles.
Speaking at
the launch announcement Harsh Kumar, Managing Director, Mahindra
Intertrade Ltd., and Member, Group
Executive Board, M&M Ltd.said,
“It gives us immense pleasure to announce commencement of operations at our new
plant in Chakan. This world-class facility located in the automotive hub of
Chakan, and backed by the highest quality steel from our partners, would help
redefinethe automotive steel supply chain model in the region.”
According
to Yi-Jen Kuo, Managing Director, China Steel Global Trading India
Pvt. Ltd., "China Steel Corporation Group has been at the helm of
developing high-end steel products such as automotive steel since 1995.India is
one of our key markets for automotive steel owing to the growth potential of
the automobile industry. Through our strategic alliance with Mahindra
Intertrade and Mitsui & Co., we are confident of providing manufacturers in
India with the highest quality products and services, and in turn contribute
towards this rapidly developing industry.”
This high-strength, high-speed facility has been especially
designed for the manufacture of nested blanks, and offers significantly higher
levels of material yields to its customers, a distinct plus in the current
competitive environment.
MASL’s
new facility at Chakan is constructed in accordance to IGBC’s Green Building
norms, and incorporates features such as enhanced indoor air quality, treatment
of non-process waste water, rain water harvesting, et al.
About Mahindra Intertrade Limited
Mahindra Intertrade is a wholly owned
subsidiary of Mahindra and Mahindra Ltd. Intertrade owns and operates the
country’s largest network of independent steel service centres inAutomotive,
Power and Home Appliances verticals. Intertrade is a leading player in the
processing of automotive steel in Western India, and in electrical steel for
power and home appliance applications. Mahindra Intertrade operates steel service
centres at Pune, Nashik, Vadodara, Bhopaland now at Chakan, in India, and at
Sharjah in the Middle East. Mahindra Intertrade has been ranked as the 36th
Best Company To Work For in India in 2015 and 4th in Manufacturing
by the Great Place To Work© Institute.
About
Mahindra Partners
Mahindra Partners is the $900 Million Private
Equity division of the Mahindra Group, whose mission is to accelerate value
creation through a diversified portfolio of emergent businesses. Mahindra
Partners adapts the Group’s unique strengths of constant innovation, prudence
and creative business models with a mandate of incubating new ventures for the
Group. The division provides growth capital to bring our stakeholders
diversified products and services. Mahindra Partners also manages portfolio
companies in various industry sectors like Retail, Renewables, Steel,
Logistics, Vocational Education, Consulting, Media, Luxury and Boat
Manufacturing, and Conveyor Systems.
Visit us at www.mahindrapartners.com
About
Mahindra
The Mahindra Group focuses on enabling people to rise through solutions
that power mobility, drive rural prosperity, enhance urban lifestyles and
increase business efficiency.
A USD 16.9 billion multinational group based in Mumbai, India, Mahindra
provides employment opportunities to over 200,000 people in over 100 countries.
Mahindra operates in the key industries that drive economic growth, enjoying a
leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong
presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive
listing of the world’s largest, most powerful public companies, as measured by
revenue, profit, assets and market value. The Mahindra Group also received the
Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category
in 2013.
Visit us at www.mahindra.com
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