Steel Insights | December 2018 | p. 49
Steel and aluminium companies in India are likely to gain from Italian engineering major Sideridraulic Spa’s presence on Indian soil. The company had set up an Indian branch some four years ago.
Following the entry of ArcelorMittal in the steel industry through its recent acquisition of Essar Steel and the sharp rise in aluminium scrap imports in the first half of the current fiscal, private sector steel and aluminium companies are now under pressure to cut costs. Sideridraulic can play a big role in helping them do so, says a company release.
Hydraulic and lubrication and water treatment plants are key components of any integrated steel or aluminium manufacturing facility. Sideridraulic specialises in this area. “Our decision to launch a Sideridraulic branch in Mumbai in 2014 has helped us to find truly excellent, reliable local suppliers, over the last four years. This has helped us to reduce our costs on imported components to no more than 10 percent of our total costs. Today we can offer Indian companies technological excellence at an accessible price,” company CEO Mario Bodini said in a statement.
Sideridraulic India Pvt Ltd is a private limited company incorporated on February 12, 2014 with an authorised capital of `4 crore and a paid-up capital of `1.6 crore. It is a subsidiary of Sideridraulic System Spa with headquarters in Cellatica, Brescia, Italy.