Usha Martin signs JV with Gustav Wolf

New Delhi, Nov 10 (UNI) Usha Martin Ltd today entered into a joint venture (JV) with Germany-based Gustav Wolf on Wire Rope in Dubai and on Steel Cord for Belt Reinforcement in India.

Under the JV, a manufacturing facility of 30,000 tonnes per year will be set up for Tyre Bead with Gustav Wolf product know-how and process technology in two phases over three to four years.

The cord capacity will also be enhanced to 3,600 tonnes per year from the current level of 2,400 tonnes per year.

Both the products will be manufactured in the expanded facility in Ranchi, Jharkhand.

The first phase of Tyre Bead project with 15,000 tonnes per year capacity will be commissioned within a year and will predominantly meet the growing demand of the domestic market.

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