It’s a double!

Essar must be wary of downturn
Ratan Tata, K. M. Birla & Shashi Ruia share one dream in common–the elusive thought of taking their old-economy metal businesses to global highs. In line with his vision, Ruia-owned Essar Steel has just scored a double ! First, it acquired Canadian steel-maker Algoma Steel for $1.5 billion on April 16, 2007. Then it followed up with US’s Minnesota Steel. Shashi Ruia, Chairman, Essar Group, asserts, “Algoma is an excellent addition to our existing steel business... And our investment in Minnesota Steel is exciting as it gives us a cornerstone in North America.” Algoma & Minnesota would boost Essar’s 4.6 million tonne annual production capacity by a significant 2.4 & 2.5 million tonnes respectively (coupled with Minnesota’s reserves of 1.4 billion tonnes of ore). Iron ore is fast becoming a much sought after commodity.

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Rashmi Bansal Publisher Of JAMMAG Magazine Caught Red-Handed, for details click on the following links:-

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)