PRESS RELEASE

Tayo Acquires Japanese Technology for High Speed Steel Rolls

Tayo Rolls Limited, A TATA Enterprise, has on the 4^th August, 2008 entered into a Technical Know-how and Licence Agreement with its Japanese promoters, Yodogawa Steel Works Limited for transfer of Technology for up gradation/manufacture of High Speed Steel Rolls, Semi-High Speed Steel Rolls and Super Nickel Grain Rolls. This is a historic moment for the Company as the co-Promoter is coming forward to strengthen Tayo’s technical capability.

Major high end Steel manufacturer across the globe are switching to High Speed (HSS) Rolls and Semi-HSS Rolls. HSS Rolls have replaced High Chrome Iron Rolls and Semi HSS Rolls have replaced High Chrome Steel Rolls because of their better overall performance and technical characteristics.

After a gap of more than 3 decades Tata’s and Yodogawa are coming together in furthering their relationship. Yodogawa Steel works Limited, is among very few Roll makers in the world having this latest state-of-the-art technology and supplying to leading high end steel mills across the world. Equipped with this technology Tayo would strengthen its leadership position in the domestic market and enhance its standing in overseas market including Corus, which is a now, a Tata Group company.

Under the said agreement Yodogawa would impart training to Tayo’s engineers in India and Japan for faster absorption of the technology. Sojitz Corporation of Japan, another co- promoter of the company, has been the facilitator in fructifying this arrangement.

The Agreement was signed by Mr Kokubo, President and Mr Nishimura, General Manager, on behalf of Yodogawa Steel Works Limited and Mr Anand Sen, Chairman and Mr Pradeep Srivastava, Managing Director, on behalf of Tayo Rolls Limited. Mr H Suzuki, General Manager and other representative of Sojitz Corporation were also present on the occasssion.

After Signing the Agreement Mr Kokubo and Mr Nishimura made a visit to Tayo Works and addressed the employees of the company. It was the first time since inception that group president of Yodogawa has visited its JV in India.

The Agreement would enable Tayo to add one more feather in its cap for being the first in India to manufacture Hi-Speed Steel and Semi-HSS Rolls.

Tayo is already executing its forged rolls and forging project with technical collaboration with Sheffield Forgemasters.

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