India-based global steelmaker Tata Steel has introduced a new brand of its hot rolled products called ‘Tata Astrum' to be used in automotive, earth moving equipment, railways, fabrication, construction and industrial machinery, and aimed at meeting demand from small and medium enterprises (SMEs).
According to Tata Steel's statement, Tata Astrum hot rolled coils and sheets will be produced in two Tata Steel mills at Jamshedpur and will be available in the 1.6 mm to 16 mm thickness range.
In the financial year 2013-14, Tata Steel aims to gain a market share of 17-18 percent in the domestic market for hot rolled products in the small and medium enterprises segment. The size of the segment is pegged at 6 million mt per year. The company expects to generate revenue of approximately INR 40 billion ($734 million).