Usha Martin & Gustav Wolf, Germany to manufacture Tyre Bead Wire in India in a joint venture

Usha Martin Ltd has announced that the Company, India and Gustav Wolf, Germany have Joint Venture on Wire Rope in Dubai and on Steel Cord for Belt Reinforcement in India. The Partners have decided to include Tyre Bead Wire under the scope of the Indian Joint Venture. Manufacturing facility of 30,000 T/Year shall be set up for Tyre Bead with Gustav Wolf product know-how and process technology in 2 phases over 3-4 years’ time frame. The Cord capacity also will be enhanced to 3,600 T/Year from the current level of 2,400 T/Year. Both the products will be manufactured in the expanded facility in Ranchi. The 1st phase of Tyre Bead project with 15,000 T/Year capacity will be commissioned in 18 to 24 months’ time. The product will predominantly meet the growing demand of the domestic market.

Source : Equity Bulls

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