Steel woes may hit Usha Martin

High debts and big losses since 2014-15 have forced steel maker to sell its wire, wire rope business

Distressful working of the steel industry till the middle of 2016 is likely to claim a victim of a significant portion of business of Jharkhand-based Usha Martin Limited. High debts and big losses since 2014-15 despite large monetisation of non-core assets have forced the integrated speciality steel manufacturer to consider the option of selling its storied wire and wire rope (WWR) business. The company has taken the first step by appointing a consultant to “evaluate the possibility” of disposing of the business.
 
Admired globally for the very high quality WWRs that Usha Martin makes, its products have stood the