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Steelworks looks to India venture

Severfield-Rowen is looking to strengthen operations in India after raising concerns that recovery in the UK markets is “distant”.

The steel group said it was moving towards three shifts in order to boost production at JSW Severfield Structures, a joint project established in India last year.

While there had been some “slippage” in contracts, the firm said the new organisation had an order book of £36M, while revenues would at least meet schedule in the second half of 2011.

The firm’s UK orders are unchanged at £221M as it looks into business possibilities in the industrial, transportation, waste and office sectors.

A spokesman said: “Notwithstanding these opportunities, the prevailing forecasts for the UK economy and construction sector, lend support to the Company’s view that a broad recovery remains distant. Severfield-Rowen is maintaining its strong domestic market position and will continue its efforts to optimise UK performance in a very tough market.

“The company’s experience and abilities are now being successfully focussed into international markets where opportunity remains strong.”

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