Mahindra Intertrade, which is part of the USD 16.2 billion Mahindra Group, today announced that it has entered into a joint venture with China Steel Global Trading Corporation, Taiwan and Mitsui & Co. (Asia Pacific) Pte. Ltd., Singapore to set up an automotive steel service centre in India at MIDC’s Chakan Industrial Area, Phase II, near Pune.
This facility will be set up at a cost of Rs 150 crore (USD 24 million) over 10 acres of land and will have an annual processing capacity of 130,000 tonnes when it begins operations in the fourth quarter of F-2015. While Mahindra Intertrade will hold a share of 51% in the joint venture, the other two partners will hold 24.5% each.
According to Harsh Kumar, Managing Director, Mahindra Intertrade Limited, “This state-of-the-art facility will be one of the few merchant producers of steel blanks and profiles offering the full range of services from sourcing to customised JIT delivery solutions. Once operational, it will redefine the supply chain model in the region backed by two global leaders in this field, China Steel and Mitsui.”
According to Julian Shir, Vice President- Planning and Administration Division, China Steel Global Trading Corporation, "China Steel Corporation Group (CSC Group) has lately been developing high-end steel products such as automotive steel. India is one of the key markets for CSC Group. By establishing this steel processing centre with Mahindra Intertrade Limited and Mitsui & Co. (Asia Pacific) Pte Ltd., China Steel Global Trading Corporation (CSGT, a 100% subsidiary of CSC Group) wishes to extend its services to India and build a beach head in the Indian automotive market. CSGT wishes not only to achieve synergy with its alliance partners, but also to progress with local customers.”
The raw stock for the facility would be imported from China Steel Global, Taiwan as well as sourced locally. The steel service centre will offer automotive customers in the Pune region an entire bouquet of end-to-end services such as sourcing, warehousing, yield optimisation, forex risk management and SKU-wise delivery and products such as blanks, trapezoids and profiles.
This would be Mahindra's seventh steel processing facility and the third in the Pune region.
The Mahindra Group was the pioneer in the steel service centre industry in India, and set up the first such facility near Pune way back in 1993.
About Mahindra Intertrade Limited
Mahindra Intertrade is a wholly owned subsidiary of the Mahindra Group. Intertrade owns and operates the country’s largest network of steel service centres across the Automotive, 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 Kanhe, Nashik, Vadodara and Bhopal in India, and at Sharjah in the Middle East.
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 16.2 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 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 and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheeler industries.
In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world.www.mahindra.com
This facility will be set up at a cost of Rs 150 crore (USD 24 million) over 10 acres of land and will have an annual processing capacity of 130,000 tonnes when it begins operations in the fourth quarter of F-2015. While Mahindra Intertrade will hold a share of 51% in the joint venture, the other two partners will hold 24.5% each.
According to Harsh Kumar, Managing Director, Mahindra Intertrade Limited, “This state-of-the-art facility will be one of the few merchant producers of steel blanks and profiles offering the full range of services from sourcing to customised JIT delivery solutions. Once operational, it will redefine the supply chain model in the region backed by two global leaders in this field, China Steel and Mitsui.”
According to Julian Shir, Vice President- Planning and Administration Division, China Steel Global Trading Corporation, "China Steel Corporation Group (CSC Group) has lately been developing high-end steel products such as automotive steel. India is one of the key markets for CSC Group. By establishing this steel processing centre with Mahindra Intertrade Limited and Mitsui & Co. (Asia Pacific) Pte Ltd., China Steel Global Trading Corporation (CSGT, a 100% subsidiary of CSC Group) wishes to extend its services to India and build a beach head in the Indian automotive market. CSGT wishes not only to achieve synergy with its alliance partners, but also to progress with local customers.”
The raw stock for the facility would be imported from China Steel Global, Taiwan as well as sourced locally. The steel service centre will offer automotive customers in the Pune region an entire bouquet of end-to-end services such as sourcing, warehousing, yield optimisation, forex risk management and SKU-wise delivery and products such as blanks, trapezoids and profiles.
This would be Mahindra's seventh steel processing facility and the third in the Pune region.
The Mahindra Group was the pioneer in the steel service centre industry in India, and set up the first such facility near Pune way back in 1993.
About Mahindra Intertrade Limited
Mahindra Intertrade is a wholly owned subsidiary of the Mahindra Group. Intertrade owns and operates the country’s largest network of steel service centres across the Automotive, 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 Kanhe, Nashik, Vadodara and Bhopal in India, and at Sharjah in the Middle East.
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 16.2 billion multinational group based in Mumbai, India, Mahindra employs more than 155,000 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 and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheeler industries.
In 2012, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world.www.mahindra.com
