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15. January 2013

UGSL sees increase in steel export to US and Europe

Financial Chronicle reported that Uttam Galva Steels said that it has seen a steady rise in export volumes sold in the European and US markets.

Mr Ankit Miglani deputy MD of UGSL told FC. “The demand for steel products is recovering globally and we have seen a steady rise in volumes for our products in the European and US markets.”

He said the global economic situation has shown signs of revival in US, Russia, and CIS countries, which has provided a marginal boost to international business. 

He said “We have moved up the value chain with 28% growth in construction and engineering segments.”

Mr Miglani added “We are targeting to stabilize our exports at 50% by the end of financial year 2013-14.”

Prior to the 2008 global recession exports contributed 70% of the company’s revenues. Last financial year, exports contributed 40% of the total INR 5,475 crore turnover.

Source - mydigitalfc.com

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