TISCO Full Form | Full Form of TISCO
TISCO Full Form - Tata Iron and Steel Company Limited
Tata Iron and Steel Company Limited
- Tata Iron and steel company Limited (TISCO), is an Indian multinational steel-making company based in Jamshedpur, Jharkhand, and is headquartered in Kolkata, West Bengal, India. It's a subsidiary of the Tata Group.
- Tata Steel is among the highest steel producing companies within the world with an annual crude steel capacity of 34 million tones once a year. It's one among the world's most geographically-diversified steel producers, with operations and commercial presence across the world.
- The group (excluding SEA operations) recorded a consolidated turnover of US$19.7 billion in the financial year ending 31 March 2020. It's the second largest company in India (measured by domestic production) with an annual capacity of 13 million tones after SAIL.
- Tata Steel operates in 26 countries with key operations in India, Netherlands and United Kingdom, and employs around 80,500 people. Its largest plant (10 MTPA capacities) is found in Jamshedpur, Jharkhand.
- In 2007, Tata Steel acquired the UK-based steel maker Corus. It had been ranked 486th within the 2014 Fortune Global 500 ranking of the world's biggest corporations. It had been the seventh most valuable Indian brand of 2013 consistent with Brand Finance.
- In July 2019 Tata Steel Kalinganagar (TSK) was included within the list of the world Economic Forum's (WEF's) Global Lighthouse Network, showing leadership in applying Fourth technological revolution technologies to drive financial and operational impact.
History
- Tata Iron and steel company (TISCO) was founded by Jamsetji Tata and established by Dorabji Tata on 26 August 1907. TISCO started iron production in 1911 and commenced producing steel in 1912 as a branch of Jamsetji's Tata Group. The first steel ingot was manufactured on 16 February 1912.
- In the first war (1914-1918), the company made rapid progress. By 1939, it operated the largest steel plant in the British Empire.
- The company launched a serious modernization and expansion program in 1951. Later, in 1958, the program was upgraded to 2 million metric tones per annum (MTPA) project.
- By 1970, the corporate employed around 40,000 people at Jamshedpur, and an extra 20,000 within the neighboring coal mines.
- In 1971 and 1979, there have been unsuccessful attempts to nationalize the company. In 1990, the company began to expand, and established its subsidiary, Tata Inc., in New York. The company changed its name from TISCO to Tata Steel Ltd. In 2005.
- Tata Steel on Thursday, 12 February 2015 announced buying three strip product services centres in Sweden, Finland and Norway from SSAB to strengthen its offering in Nordic region. The corporate, however, didn't disclose the worth of the transactions.
- In September 2017, thyssenkrupp of Germany and Tata Steel announced plans to combine their European steel-making businesses.
- The deal will structure the European assets as Thyssenkrupp Tata Steel, an equal venture. The announcement estimated that the corporate would be Europe's second-largest steelmaker, and listed future headquarters in Amsterdam.