Register to Subscribe



Home arrow News arrow Business News arrow NELCAST plans to attain global leadership over the next 5 years
NELCAST plans to attain global leadership over the next 5 years Print E-mail
Written by Ravi   
Friday, 22 January 2010
Chennai: NELCAST Ltd, with a current Installed Capacity of 1,50,000 Tonnes, aims to become one among the top five Ductile Iron producing foundries globally, in the next 3-5 years.

Going forward, NELCAST Ltd is in the process of moving up the value chain and plans to increase the share of high-margin machined castings in the total production to 20% over the next three years from its current level of about 10%. Also, steps are being taken to expand the product base by focusing on Heavy Castings for Earth Moving and Tractor Segments.

The INR 340 crore company is currently the market leader in the Ductile Iron producing foundry segment in India. The company is exploring all avenues to grow both organically and inorganically to attain the global leadership.

"NELCAST Ltd. has come a long way from being a small player with an output of about 50 tonnes per month 25 years ago to being a listed company that is now one of the largest in its space in India. The steps we have outlined today mark the beginning of our next phase of growth and also our clear focus to emerge as the one of the largest player in the world over the next 5 years. We look forward to the continued support of our customers, investors, suppliers and employees in this phase as well," said Shri P R K Reddy, Chairman & Managing Director, NELCAST Ltd.

NELCAST Ltd today celebrated its 25th anniversary. Shri R Seshasayee, Managing Director, Ashok Leyland Ltd was the Chief Guest, Shri Vinod K Dasari, Whole Time Director and Chief Operating Officer, Ashok Leyland Ltd and Shri  R C Banka, President, TAFE Ltd. were joined by a galaxy of senior industry executives at the celebration function of the company held at Chennai.

"The timing of the celebration and the outlining of key initiatives comes at a time when the Indian economy is staging a quick and significant recovery driven by automotive sector among others. This and the continued growth of India as an export hub for certain segments of automotive industry and the growing excellence in technology and manufacturing of companies like ours provide a realistic opportunity to strive for global leadership in the chosen area. The silver jubilee year is a good time to put together a clear path of how do we get there and start making the investments and decisions that will aid our efforts to get there," Shri P R K Reddy said.

 
Related news
More recent
Earlier on
< Prev   Next >

Sponsors

Mazak - The world's largest machine tool builder
JYOTI - India's most dynamic machine builder
TaeguTec - Cost effective tooling solutions
Advertisement

<< SHARE

Social

AD

Subscribe

Subscribe to MACHINIST by Email

Search

 
RSS 1.0
© 2020 MACHINIST
This site is best viewed with Firefox 2.0 or higher at a minimum screen resolution of 1024x768