Hyundai Steel Co announced that it will supply 5 meter wide steel plate rollers to India’s Essar Steel Ltd, thus becoming the first Korean company to enter the market for the large machinery.

Only six companies in Germany, Japan and Sweden have so far manufactured rolling machines for steel plates with a width of more than 5 meters.

Hyundai Steel said it aims to grab a global market share of 5% this year and 15% by 2014.

A Hyundai Steel official said “Due to the limited number of suppliers, delivery of the super wide steel plate rollers takes a long time and the prices are high, too. But our development of the rollers will help steel plate makers cut costs and more easily manage their delivery time.”

Hyundai Steel was the first in Korea to enter the large steel rolling machinery market after establishing a technological partnership with America’s Blaw-Knox in 1975.

(Sourced from heraldm.com)