Mahindra Ugine Steel Company has earmarked a capital expenditure of about Rs 47.49 crore for setting up Automated Heavy Stamping Presses (Press Shop) at the manufacturing unit of its stamping division at Pantnagar near Rudrapur, Uttarakhand. The company’s board of directors in their meeting held on May 2, 2012 has in principle approved the capex plan.
The proposed new Heavy automates stamping presses are being set up to meet the increasing demand of stamping components of automotive businesses situated in and around Pantnagar and Rudrapur like Tata Motors, Ashok Leyland and Mahindra & Mahindra. The press shop is expected to be commissioned in financial year 2013-14.
Mahindra Ugine Steel Company is engaged in the manufacturing of alloy and special steel through Electric Arc Furnace (EAF) route and caters to the automotive, engineering, bearing and other industries. The company manufactures a wide array of products including skin components, underbody components, critical assemblies, chassis components and car body sheet metal (Body in White) parts with a total capacity of 30,000 metric tons.
