Financial Daily from THE HINDU group of publications Saturday, Dec 18, 2004 |
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Corporate
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New Projects Bay-Forge to inaugurate ring rolling mill Our Bureau
Chennai , Dec. 17 BAY-FORGE Ltd, a leading producer of open die forgings and ring rolling, will inaugurate its ring rolling mill. The mill has been set up at a cost of Rs 80 crore at Bay-Forge's plant at Palayanoor, along the National Highway-45, outside Chennai. The new ring rolling mill, which the company says is the largest such facility in the country, has the capacity to manufacture rings up to 5.5 m in diameter and up to a height of 1 m. The mill will meet the growing demands of the aerospace and power and energy projects in India, according to a press release from Bay-Forge. Bay-Forge's manufacturing facility is equipped with a 3,500-tonne press with centring arms, punch swing and locating arm. It has gas and electric furnaces for steel and aluminium, with capacity ranging from 20 to 100 tonnes. The release quoted Mr Francesco Faresin, Managing Director, Bay-Forge Ltd, as saying that with the addition the ring rolling mill, the company can consolidate its position as technological leader in the production of open die forgings and seamless rings in the country. It quoted Mr R.C. Mohan, President and whole-time director, as saying that the company had registered a turnover of Rs 17 crore in 2003 and a turnover of Rs 32 crore in 2004. It expected to clock a turnover of Rs 45 crore in 2005. When contacted, Mr Mohan said currently the Indian Space Research Organisation was a major customer for the company. Mr Madhavan Nair, Chairman, ISRO, is scheduled to formally inaugurate the new facility on Saturday.
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