Acting US Secretary of Commerce visit highlights Tata investments in the United States

~ Tour and speech at Thomas Steel Strip in Warren, Ohio reflects the long-lasting economic value and job-creation potential of Foreign Direct Investment ~

The Acting United States Secretary of Commerce Rebecca Blank today met with the management and employees of Thomas Steel Strip, a unit of Tata Steel, highlighting the capacity of foreign direct investment (FDI) to create jobs and economic growth in the United States.

During her visit, Acting Secretary Blank toured the Thomas Steel Strip manufacturing facility, which produces electroplated cold-rolled strip used in the casings of consumer batteries, automotive parts and other applications. The plant currently has over 275 full time employees and plans to add a small number of additional staff to cope with rising demand.

“In order to create all the jobs we need, we have to attract more businesses to our shores and do more to keep great U.S. firms here,” said Acting U.S. Commerce Secretary Rebecca Blank. “That’s why SelectUSA was created. It's the first government-wide initiative to attract and retain new business investment – investment such as Tata Steel -- and the jobs that come with it, in the United States. SelectUSA is vital to help more businesses grow and create long-lasting economic value in the U.S.”

Thomas Steel Strip is part of India-based Tata Steel, which has production operations in 26 countries and over 81,000 employees globally. Tata Steel is a part of the Tata group of companies, which includes 12 companies and more than 22,000 employees in the United States and Canada. Tata’s diverse operations in the United States include mining, call centers, technology consulting, steel manufacturing, coffee and tea production and sales, luxury hotels and automobiles.

In Ohio, approximately 1,300 people are employed by Tata companies, including TCS which has a software delivery center in Milford, Ohio; Tata Business Support Services (TBSS), where staff work at a Reno, Ohio contact center; and Tata Technologies, which carries out engineering and design work for automotive, manufacturing and aerospace industries.

“We are grateful that Acting Secretary Blank decided to visit our plant and speak with our employees and I think Tata Steel’s obvious commitment to Thomas Steel Strip for its long-term future as well as Tata’s commitment to the local communities here in Warren, Youngstown and around the country makes us the perfect choice,” said Thomas Steel Strip President and Chief Executive Officer William Boyd.

“The investments that Tata Steel and other Tata companies have made in the US are indicative of the potential in this market for non-US companies who recognize the opportunity that exists in both the US manufacturing and service sectors. The United States is the most resilient and dynamic economy in the world and neither Thomas Steel nor Tata is alone in their recognition of the potential for investment here,” added Boyd.

Ends

About Tata Steel

Established  in 1907 as Asia's first integrated private sector steel company, Tata Steel  Group is amongst the leading steel manufacturers in the world with an annual  crude steel capacity of over 28 million tonnes per annum (mtpa). It is now the world’s second-most geographically-diversified steel producer, with operations  in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group, with a turnover of US$ 26.64 million in FY '11, has over 81,000 employees across five continents and is a Fortune 500 company. The Group’s vision is to be the world’s steel industry benchmark in “Value Creation” and “Corporate Citizenship” through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspiration targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management.

About Tata

The Tata group of companies is emerging as one of the world’s most trusted and respected corporate names. Combining ethical values with proven business performance and leadership, Tata has a heritage of deep social commitment that has earned the trust and respect of its stakeholders. In the US, the Tata group has had a presence for over 60 years. As the largest India-headquartered multinational in North America, Tata has 12 companies and more than 22,000 employees in the United States and Canada.

Five core values — integrity, understanding, excellence, unity and responsibility — are woven into the fabric of Tata and its brands, and these are fundamental to their success around the world. Known for its unique business model of returning wealth to the communities in which it operates, 66% of the holding company Tata Sons’ equity capital is owned by philanthropic trusts. For more information, visit http://www.tata.com/ or http://northamerica.tata.com/.

For further information, please contact:

Matthew Clark
Senior Vice President
Financial Dynamics
(202) 728-8766
matthew.clark@fd.com