Pune,Gontermann-Peipers India Ltd., the largest manufacturer and exporter of Cast and Forged Rolls, is in expansion mode as the company plans to extend its product portfolio with the launch of 6000 tpa Value Added Castings project. The implementation involves an expenditure of Rs 48 crore and would cater to sectors like mining, power, railway & defence. The company has enough land bank at its existing plant at Pailan for the project which is expected to be operational within 18 months. This is in addition to the modernization/expansion undertaken by the company at an outlay of Rs 75 Crores (approx) which is expected to be completed by this month end, which will increase the manufacturing capacity from the present 15300 MT to 21000 MT. The Company has also developed the High Speed Steel Rolls which is an import substitute.

The company has entered into a Memorandum of Understanding (MoU) with the Government of Chhattisgarh to set up a pelletisation plant of 1.2 million tonnes per annum in the State of Chhattisgarh. The capex for the expansion is to the tune of Rs 300 crore. The implementation of the MoU would be taken up by the Company after obtaining all requisite approvals.

Chhattisgarh in Central India is one of the favored destinations for manufacturing companies in the country due to tremendous support from the government in developing the industry. The MoU will help us meet increased customer demands and deliver quality products. The MoU with the Govt. of Chhattisgarh and introduction of Value Added Castings to our product portfolio is an important step in realising GPIs expansion plans in India., Says Mr. Lalit Poddar, Managing Director, Gontermann-Peipers India Ltd. Another major development has been the companys proposed entry to the Indian Commodity Futures Market by setting up a Nation-wide Multi-Commodity Exchange, subject to necessary approvals.

Since the Company manufactures steel & iron based intermediate products, there is potential for developing steel & iron based contracts on Indian bourses. We will be the third Greenfield Exchange in the country if our proposal is accepted by the Forward Market Commission and it will be the eighth & the last Commodity Exchange to be set up in the country., adds Mr. Poddar.

Notes to Editor

About GPI

Established in 1966, Gontermann-Peipers (India) Ltd. (GPI) is a leading engineering company engaged in the manufacture of cast and forged rolls - a key consumable of the hot rolled & cold rolled steel mills, with an annual capacity of 21000 metric tones per annum (mtpa). GPI is the largest manufacturer and exporter of cast and forged rolls. GPI is the only Indian roll maker with both vertical and horizontal spin casting technology and enjoys a 40% market share in the Indian roll industry. GPI holds the number one position in India and ranks amongst the top 10 players in the world. The company has an in-house Research & Development center duly recognised by the Government of India, Ministry of Science & Technology, Department of Scientific & Industrial Research equipped with sophisticated state of the art equipments for testing & R&D to meet the stringent quality requirements. GPI reported an annual turnover of Rs. 140 Crore for the financial year ended 2009-10. Leading global steel manufacturers fall under GPIs clientele. It is listed with the BSE.

Safe Harbour

Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.