 "B Muthuraman, the man who transformed Tata Steel, ends 48-year long stint with co")
New Delhi: Widely acknowledged as the person behind transforming Tata Steel into the world’s eleventhlargest steel-maker, B Muthuraman today had his last day in office after 48-year long stint on attaining the age of 70.
“Tata Steel has informed BSE that B Muthuraman,Vice-Chairman of the company has stepped down from the Boardof the company on September 26, 2014 on attaining the age of70 years, in accordance with the company’s retirement policy,“the steel major said in an exchange filing.
[caption id=“attachment_102023” align=“alignleft” width=“380”]  B Muthuraman. Reuters[/caption]
Muthuraman, who celebrated his birthday spending most ofthe day in office in Bombay House meeting colleagues andfriends, told PTI that he has no regrets and it was a huge"pleasure and honour” to work with such an “open organisation"which “allows enough freedom to work.”
Beginning his journey in the country’s leading steel firmin 1966 as a trainee engineer, he rose to the position ofVice-Chairman in 2009 before spending eight long years asManaging Director.
Tata Steel not only grew domestically under Muthraman’sstewardhip, it also expanded overseas, extending its footprintacross various geographies with acquisition of Tata SteelThailand (earlier known as NatSteel Holdings and MillenniumSteel) and Tata Steel Europe (formerly knows as Corus) between2001-2009.
The acquired firms have manufacturing base in Singapore,Thailand, China, Malaysia, Vietnam, Australia, the UK, France,Germany, the Netherlands and Belgium.The expansion of the company’s lone steel making facilityat Jamshedpur to 9.7 million tonnes per annum (mtpa) in
Jharkhand was undertaken during his tenure as the functionalhead of Tata Steel.
Tata Steel’s decision to set up a six mtpa greenfieldplant in two phases, to be commissioned by the end of currentyear, was also Muthuraman’s brainchild.The company had just three mtpa capacity in 2001 when hetook over at the helm of affairs.
Established in 1907 as Asia’s first integrated privatesector steel company, Tata Steel Group is among the top-tenglobal steel companies with an annual crude steel capacity ofnearly 30 million tonnes per annum.
It is the world’s second-most geographically-diversifiedsteel producer now and had recorded a turnover of USD 24.81billion in last fiscal.
PTI
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