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Usha Martin joins hand with Japanese in Thailand
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Friday, 30 Nov 2012

India's Usha Martin Company, Asia's leading manufacturer of long steel products, has joined hands with a Japanese partner to set up its second manufacturing plant in Thailand at a cost of THB 500 million.

Its Thai wholly owned Usha Siam Steel Industries Company and Tesac Wirerope Company, Japan's leading wire rod producer, have formed Tesac Usha Wirerope with 50 to 50 ownership.

The JV has begun to develop the plant on 9.5 rai of land in the Pathum Thani's Nava Nakorn Industrial Estate.

The facility is next to Usha's existing plant and will be operational in 2014 with monthly output of 1,000 tonnes.

Mr Amogh Sharma MD of Usha's Thai operation said that the 2 parties discussed the partnership 3 years ago, but the development was delayed due to last year's floods, when production was suspended for about five months.

Mr Sharma said that Usha selected Tesac as a partner due to its technology and customer base for special steels in the elevator, marine and infrastructure sectors.

He said that "We match our long experience with a partner with high technology and end users of long steel products."

He added that its production of long steel in Thailand has not been affected by Chinese made steel rods dumped on the Thai market at a 14% lower price, as Usha has focused on special-grade steels and hig -end users.

Meanwhile, the 2 parties see the potential for Thailand to become a production base for Southeast Asia after the Asean Economic Community is established in 2016.

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