Usha Martin Ltd
Usha Martin Ltd — one of the leading steel wire and
xlingk wire rope manufacturers globally— plans to tap the Chinese market.
The senior management of the company will visit China to explore opportunities, chairman Prashant Jhawar said. The company hopes to export 10,000 tonnes of wire and wire ropes to China in the next three years, managing director Rajeev Jhawar said.
About 33 per cent of the company’s revenue come from the overseas market. However, the financial crisis in the US and Europe has dented profitability.
The BP oil spill in the Gulf of Mexico has also impacted
xlingk sales. Despite these, the company has posted a 30.7 per cent rise in consolidated net profit the first quarter of this fiscal.
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