TISCO starts operation of ISWP

TISCO starts operation of ISWP

Recent news in the market report that, Tata Iron and Steel Corp (TISCO) has reopened Indian Steel and Wire Products (ISWP), which was closed for five years. The new board of ISWP, which consists of mostly TISCO officials, helding a meeting in Jamshedpur, took all the assets, movable and immovable, of the company. Turnover of the company from its ex-management to the new board was effected by the Board for Industrial and Financial Reconstruction (BIFR). The new board consists of seven members from TISCO, one from Punjab National Bank and one from BIFR. The plant is scheduled to operate in a week's time. Its products will include mild steel, low and high carbon steel, dual phase steel and electrode quality wire rods.