History of Tata Iron & Steel
Tata Iron & Steel is the twelfth largest steelmaker in the world, producing almost 24 million tonnes (mt) of liquid steel in 2011.
The timeline below covers the history of the firm.
- 1907: Tata Iron & Steel Co Ltd established by Jamsetji Tata.
- 1911: Blast Furnace operation at Sachi begins.
- 1912: Jamsetji Tata's plant produces its first steel ingot.
- 1912: 8 hour day introduced to maintain employee well-being.
- 1920: Leave-with-pay introduced. This practice was rare pre-1940s.
- 1924: TISCO close to closure as a result of 1920s Depression.
- 1951: Modernisation plan launch - with Kaiser Engineering support.
- 1971: Government attempt to nationalize TISCO fails.
- 1987: Collaboration started with Timken in bearings production.
- 1996: JV with Inland International - creation of Tata Ryerson.
- 2004: Acquisition of Singapore based NatSteel for ~$486m.
- 2004: Creation [with SAIL] of the mjunction online trading platform.
- 2005: Acquisition of 40% stake in Thailand's Millennium Steel.
- 2005: TISCO changed its name to Tata Steel.
- 2005: MoU signed for 5mt integrated plant at Jagdishpur.
- 2007: Tata Steel wins bid for Corus against Brazil's CSN.
- 2007: Acquisition of controlling stake in 2 Vietnamese rolling mills.
- 2010: Partial mothballing begins at Tata's TCP plant at Teesside.
- 2011: Tata Steel's Teesside Cast Products (TCP) plant sold to SSI.
- 2011: Llanwern hot strip mill in the UK temporarily mothballed.
- 2012: Blast furnace relit at former Corus Redcar steel plant.
- 2012: Rebuild commences of blast furnace No 4 in Port Talbot, UK.
- 2012: Retirement of Ratan Tata - Cyrus Mistry is new Chairman.
- 2013: Tata Steel Europe reports record GBP 1.2 bn loss.
- 1904: Jamsetji Tata died in 1904, some years before the project was completed.
- 1907: Ironmaking commenced in Bihar, where rich iron ore deposits had been identified in the early 1900s.
- 1919: The iron and steelmaking factory in Sachi and adjacent township were later named Jamshedpur.
- 1912: At this time, a 12 hour working day was the legal requirement in Britain.
- 1996: Tata Ryerson was a joint venture that would provide industrial materials management services in India.
- 1987: Collaboration with the Timken Co, USA was in the setup of Tata Timken for the manufacture of industrial bearings.
- 2004: www.mjunction.com is an online trading and procurement platform - a joint venture of Tata Steel and Steel Authority of India (SAIL).
- 2007: Expansion in Vietnam by Tata Steel was effected through NatSteel Asia Pte Ltd, Tata's wholly owned Singapore subsidiary. NatSteel Asia acquired a controlling equity stake in SSE Steel Ltd and in Vinausteel Limited.
- 2007: Bid for Corus commenced in October 2006 with a deal signed between Tata Iron & Steel and Corus. Just 4 weeks after this deal was signed, Brazil's CSN launched a counter offer for Corus. Within a few weeks, Tata increased their original offer, which was matched within hours by a yet higher offer from CSN. Some 6 weeks later, Tata Steel won the bid - albeit at a markedly higher price than Tata's original offer.
- 2010: Mothballing of the Teesside plant was considered necessary after the consortium involved in a steel offtake contract [a 10-year deal signed in 2005] pulled out of the steel slab purchasing arrangement, soon after the financial and steel market crisis of summer 2008. Thailand's SSI later purchased the Teesside plant.
- 2011: Mothballing of Llanwern intended as a temporary measure, with HSM restart [subject to steel market demand conditions] anticipated at end-2012.
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