The Fortune 500 Company That Is Tata Steel

Topics: Financial statements, Balance sheet, International Financial Reporting Standards Pages: 10 (3032 words) Published: March 5, 2013
Tata Steel Limited  (NSE: TATASTEEL, BSE: 500470) (formerly Tata Iron and Steel Company Limited (TISCO)) is an Indian multinational steel-making company headquartered in Mumbai, Maharashtra, India, and a subsidiary of the Tata Group. It is the12th-largest steel producing company in the world, with an annual crude steel capacity of 23.8 million tonnes, and the largest private-sector steel company in India measured by domestic production. Tata Steel has manufacturing operations in 26 countries, including Australia, China, India, the Netherlands, Singapore, Thailand and the United Kingdom, and employs around 81,600 people. Its largest plant is located in Jamshedpur, Jharkhand. In 2007 Tata Steel acquired the UK-based steel maker Corus in what was the largest international acquisition by an Indian company to date. Tata Steel is listed on the Bombay Stock Exchange, where it is a constituent of the BSE SENSEX index, and the National Stock Exchange of India.[7] It is ranked 401st in the 2012Fortune Global 500 ranking of the world's biggest corporations.[8] It is the eighth most-valuable Indian brand according to an annual survey conducted by Brand Finance and The Economic Times in 2010.

Tata Iron and Steel Company was established by Dorabji Tata on August 26, 1907, as part of his father Jamsetji's Tata Group. By 1939 it operated the largest steel plant in the British Empire. The company launched a major modernization and expansion program in 1951. Later, the program was upgraded to 2 MTPA project. In 1990, it started expansion plan and established its subsidiary Tata Inc. in New York. The company changed its name from TISCO to Tata Steel in 2005. In August 2004, Tata Steel agreed to acquire the steelmaking operations of the Singapore-based NatSteel for S$486.4 million in cash.] The acquisition was completed in February 2005. In 2005, Tata Steel acquired a 40% stake in the Thailand-based steelmaker Millennium Steel for $130 million from Siam Cement. In 2007 Tata Steel through its wholly owned Singapore subsidiary, NatSteel Asia Pte Ltd acquired controlling stake in two rolling mills: SSE Steel Ltd, Vinausteel Ltd located in Vietnam.


Tata Steel is headquartered in Mumbai, Maharashtra, India and has its marketing headquarters at the Tata Centre in Kolkata, West Bengal. Tata Steel has a presence in around 50 countries with manufacturing operations in 26 countries including: India, Malaysia, Vietnam, Thailand, Dubai, Daggaron, Ivory Coast, Mozambique, South Africa, Australia, United Kingdom, The Netherlands, France and Canada. Tata Steel primarily serves customers in the automotive, construction, consumer goods, engineering, packaging, lifting and excavating, energy and power, aerospace, shipbuilding, rail and defence and security sectors.

The company is facing increasing criticism that the drive for growth and profits is completely overshadowing its once famed philanthropy, and causing lasting social and environmental damage at various locations. In response, Tata cites its programs for environment and resource conservation, including reduction in greenhouse emission, raw materials and water consumption. The company has increased waste re-use and re-cycling, and reclaims land at its captive mines and collieries through forestation. Tata Steel's chief, environment and occupational health, says, "Our capital investment in pollution-abatement solutions was in the vicinity of 4 billion in 2003-04."

Wipro Limited (formerly Western India oilment Limited) (NYSE: WIT,BSE: 507685) is an information technology (IT) consulting and outsourcing service company located in Bangalore, Karnataka, India. As of 2012, the company had 140,000 employees in 54 countries. Wipro is the second largest IT services company in India. Its subsidiary, Wipro...
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