India's Jindal Stainless Limited (JSL) has inked an agreement with Japan-based JFE Steel to strengthen its manufacturing capabilities for select ferritic stainless steel grades, the company said in a regulatory filing on Monday, September 7.
Ferritic stainless steel grades are widely used in automotive components, railway coaches, kitchen equipment, industrial machinery, construction and several other value-added applications, making them an important growth segment for the future.
“JFE Steel's decades of expertise in ferritic stainless steel manufacturing will help us further strengthen product quality and operational excellence. More importantly, this association is about building capabilities that create greater value for our customers by strengthening our people, processes and practices through this agreement," JSL managing director Abhyuday Jindal said in a statement.
Under the pact, JFE Steel will support Jindal Stainless' ongoing efforts to strengthen product quality and manufacturing practices for the grades specified in the agreement.
The pact comes at a time when global demand for stainless steel is rising, driven by increasing adoption across automotive, infrastructure, railways, process industries and other value-added applications, owing to its corrosion-resistance, durability and lower lifecycle costs, the statement said.
