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Tata Steel Wins ET Award for Company of the Year

01/22/2009 - Tata Steel is selected by the Economic Times  to receive its Company of the Year Award, part of the Economic Times’ awards for corporate excellence.

Tata Steel has been honored by the Economic Times with its Company of the Year Award.
 
Tata Steel Managing Director B Muthuraman received the prestigious award from the Honourable Prime Minster of India, Dr. Manmohan Singh. The award was said to have been given in recognition of Tata Steel as a company that has consistently set clear performance benchmarks for the rest of the industry and has endeavored to become a world leader.
 
As he accepted the award, Muthuraman attributed Tata Steel’s success to its employees.
 
"It's a great pleasure to accept this award on behalf of the 100,000 people of Tata Steel, present and past. They have demonstrated oneness, ethical governance and trust, the cornerstone for sustainability of corporate India.
 
“This award is a recognition of what Tata Steel has done in the last 100 years rather than the recent economic performance,” continued Muthuraman. “I feel great to accept this award from the honorable prime minister, who had laid the foundation stone of our current economic growth 17 years back."
 
Jury members were full of praise for the achievements of both Tata Steel and Reliance Industries (RIL), Tata Steel’s closest contender for the award. To break the tie between the two companies, the jury opted for voting by secret ballot. Tata Steel was eventually voted as ET’s Company of the Year.
 
Established in 1907 as Asia's first integrated private-sector steel company, Tata Steel Group (including Corus) is the world's sixth-largest steel producer with a crude steel capacity of over 28 million tonnes. It is now the world's second most geographically diversified steel producer, with operations in 26 countries and commercial presence in over 50 countries. With a turnover of USD 33 billion in 2007-2008, the Tata Steel Group has over 82,700 employees across four continents. It also is a proud winner of the Deming Application Prize for excellence in quality processes, the only steel plant outside Japan to be awarded this prestigious medal.