India’s BMW Industries Limited (BMWIL), a steel services company, has entered into an agreement with Tata Steel Limited for conversion of continuous cast (CC) billets sourced from the latter to rebar, a BMWIL regulatory filing said on Tuesday, October 25.
BMWIL said that it had developed capabilities to provide 360-degree services for customizing steel requirements for its clients from its logistical and processing centres.
The company’s present capacity utilization of its service centres is about 40 percent and the conversion agreement with Tata Steel will increase this and improve revenue earning and profitability.