Tata Steel is world's best steel maker

Tata Steel has been named the "best steel company" in the world by World Steel Dynamics (WSD).

"Tata Steel's selection as the top-most steel manufacturing company by WSD is a vindication of the success of the sweeping and radical changes made by the company to keep it vibrant, competitive and sustainable," B Muthuraman, managing director of Tata Steel, said today.

The 23 steel companies covered by WSD included L N Mittal's Mittal Steel, Bao Steel of China, Posco of South Korea, US Steel, Tata Steel, and Arcelor of Europe.

The 20 parameters considered for arriving at the title of best steel maker included cash operating costs, harnessing technological revolution, profitability in the last four years, strength of balance sheet, dominance in the country/region, threat from nearby competitors and stock market performance.

Tata Steel scored the highest 8.45 marks followed by Posco with 8.25 marks.