Usha Martin's Thailand subsidiary - Usha Siam Steel Industries (Usha Siam) is expecting commencement of its partial operations from April, 2012 followed by full operations from July / August, 2012 onwards.
Further, the insurance companies are considering the claims subject to normal process of claim settlement and Usha Siam is expecting to receive disbursement of first phase of claim by February, 2012.
Earlier on October 25, 2011, Usha Siam had halted the production on the back of devastating floods in Thailand, facilities of Usha Siam which had an annual production capacity of 44000 MT had been inundated in water and were currently non operational.
Usha Martin is engaged in the manufacturing of wire rods, bright bars, steel wires, specialty wires, wire ropes, strand, conveyor cord, wire drawing and cable machinery. The company was incorporated as a joint venture between Usha Martin Industries and Bihar State Electronics Development Corporation, AEG Kabel, Germany (now Kabelrhydt and a member of the Alcatel group) and DEG, Germany.
