B Muthuraman stepped into Irani's shoes in 2001. 2001-02 was also the year when steel prices touched rock bottom. But Tata Steel emerged as one of the five steel manufacturers across the world to post profits.
What followed were efforts to break the commodity cycle with branding initiatives and retailing. The steel cycle had also turned.
In the last couple of years, under the leadership of Muthuraman, the company has pulled off several global acquisitions, Corus Group being the most historic.
It's not easy for a 100-year old company to vault from 56 to sixth largest in the world and that too in its 99th year! Many century-old companies in India are living in past glory.
And only 2.1 per cent of the companies listed on the New York Stock Exchange at that time exist today. The rest have perished.
But Tata Steel seems to have just picked up speed. It's yet to peak.
Loking ahead
By 2012, its capacity of 40 million tonnes will make it the SECOND LARGEST STEELMAKER in the world
By 2015, its de-integrated capacity will be in excess of 50 MILLION TONNES
It plans to have a STRONG BASE IN INDIA and primary steel making in countries rich in iron ore, coal and gas
It will be on the lookout for ACQUISITIONS in growing and mature markets
It wants to become a GLOBAL PLAYER with balanced presence in developed European markets and fast-growing Asian markets
It will aim for OWNERSHIP OF STRATEGIC RAW MATERIALS and control over logistics
Ratan N Tata (L), Chairman of Tata Sons, and James Leng (R), Chairman of Corus Group, are pictured following a press conference in London. Tata Steel out-bid its Brazilian rival CSN in an auction to take over Anglo-Dutch steelmaker Corus
Photograph: Adrian Dennis/AFP/Getty Images
Powered by 
Advertisement
