Public CompanySeverfield-Rowen inks another Indian JV
British structural steel major Severfield-Rowen today announced that it has signed second joint venture in India to establish a structural metal decking ompany in Mumbai and Bellary (Karnataka). Based in Thirsk, Yorkshire, the company has reached an agreement between JSW Severfield Structures and SMD Asia.
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JSW Severfield Structures is a 50:50 joint venture between Severfield-Rowen and JSW Steel in November 2008 for design, production and erection of structural steelwork to principally service Indian markets.
SMD Asia is a limited liability partnership formed by the directors of SMD, a British company, which specialises in design, production and installation of metal decking for construction projects.
In an interim management statement covering the period up to 17 November, Severfield-Rowen said, "In the second half of the year, all group companies are performing operationally in line with expectations, delivering projects on time, with overall group financial projections emerging slightly ahead of management"s expectations.”
It said that British demand, as anticipated, is poor in several of the key steel sectors. "While the British market will be very challenging, the company has made evident progress in addressing capacities and costs and is well positioned to grow domestic share. In export markets, the company is demonstrating its competitive capability," it said.