The Hindu Business Line : Salem Steel Plant appoints IIM Calcutta as consultant

TO INCREASE its presence in the retail utensils market, the Tamil Nadu-based Salem Steel Plant, a unit of the Steel Authority of India Ltd (SAIL), has appointed IIM Calcutta as consultants.

Recently, the management of Salem Steel set up converters throughout the country for converting stainless steel into utensils.

According to Mr M. Roy, Executive Director, the plant has plans to expand its presence in the utensils retail market. It has been identified as of its most important long-term business proposition.

"We have asked IIM Calcutta to help us in all aspects be it pricing of the product, distribution of items or creating a retail chain. We would also like to go for institutional sales. IIM Calcutta would prepare for us a detail report on this business plan," Mr Roy told Business Line.

A formal agreement between IIM Calcutta and Salem Steel Plant has been signed. A team for the leading B-school will soon reach Salem for conducting a detailed study.

Salem Steel Plant also plans to open an outlet in Chennai. According to Mr Roy, the plans for this showroom is more or less final. Similar outlets are also planned for other metros too.

No exports: Following a steep fall in the global steel prices, including stainless steel, Salem Steel has stopped exporting its products for the time being. However, it had earlier worked out ambitious export plans.

The plant is also hit by poor raw material supplies. . Salem Steel is heavily dependent on others supplies of stainless steel slabs.