Mahindra Ugine Steel Company inks pact with Mahindra Sanyo Special Steel

Mahindra Ugine Steel Company (MUSCO) has inked pact with Mahindra Sanyo Special Steel by forming a joint venture with the company. With this, the company aims to be one of the most profitable, high quality speciality steel producers in the coming years. Recently, MUSCO has completed the financial closure of the 51:49 joint venture with Sanyo Special Steel Co and Mitsui & Co.

The joint venture expects to enhance its current production from the existing level of 120,000 tonnes a year, with financial, technical and operational inputs from Sanyo Special Steel and Mitsui.

Mahindra Ugine Steel Company is engaged in the manufacturing of alloy & special steel through Electric Arc Furnace (EAF) route & caters to the automotive, engineering, bearing & 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.