Thursday, Apr 11, 2002
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By Our Special Correspondent
"The agreement aims at providing the Indian automotive industry with effective total-steel solutions, and in the process, improving the efficiency and the performance of these three steel companies,'' stated a press release issued by Tata Steel. As a result of this tripartite agreement, Nippon Steel and Arcelor will assist Tata Steel in its efforts to cater to the requirement of high quality steel sheets of the Indian automotive industry. "The strategic alliance will greatly enhance the capability of Tata Steel to serve the Indian automotive customers to global standards of quality and service,'' said B. Muthuraman, Managing Director of Tata Steel. This tripartite agreement is a part of the strategic alliances that are beginning to happen in the steel industry at the global level. This is the first time an Indian company has entered into a strategic alliance with two world steel giants.
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