Basing on this agreement, GPI will not only export its products to Chinese market, but also produce various types of rolls using Formtec’s technology and specifications.
“With the conclusion of this alliance there will be significant breakthrough for our products in Chinese market. GPI is confident of creating a nitche in this new and vast market,” said GPI’s executive director, BN Bhattacharya. China is considered to be the cheapest producer of rolls.
“This alliance would not only benefit both GPI and our company but also the steel industry of both the countries,” said Mr Chuanjie. GPI was working on various proposals for marketing its products in China and entering into a strategic alliance keeping in view the vast Chinese market. At present, GPI produces back-up rolls, plate mill rolls, high-speed rolls, high crome rolls, duplex plate mill rolls and duplex back-up rolls. “We are mainly catering to steel industry. Almost all the steel plants in the country are our clients. However, our product range also includes rolls for paper and rubber industries,” Mr Bhattacharya said.
GPI exports around 25 per cent of its products to 35 countries including countries like the USA, Germany, South Africa, Korea, Canada and West Asia.
“We are now focusing on further substantial increase in the export turnover and mainly concentrating on new markets including China, which is the largest producer of steel in the world and provides a very large market for our products, particularly for new generation rolls. Russian market is also another thrust area,” said GPI’s president LK Poddar.