Steelcast targets US Railways for big growth [Mar 2012]

Gujarat-based Steelcast Ltd. and Michigan Steel of USA have formed a 50:50 JV, Steelcast LLC, to tap the huge US castings market. Steelcast JV in the USA has a potential to generate Rs. 200 crore revenues over the next five years from US Railways demand only.  India’s leading steel castings manufacturer, Gujarat-based Steelcast Limited, is getting ready to tap the huge multi-billion dollar US Railways demand for castings. As part of the last lap of getting certified by the US Railways, an inspection team is coming from the USA to inspect the company’s castings manufacturing facilities located at Bhavnagar in Gujarat. Once the approval is received in a couple of months, Steelcast will become only the second such company from India.
In June 2010, Steelcast Ltd. along with Michigan Steel, USA had formed a 50:50 joint venture company, Steelcast LLC to tap the huge potential for castings in the USA, especially the US Railways for freight transport, which is one of the biggest in the world. Steelcast also has a technical and marketing alliance with Michigan Steel.

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