Foseco India Limited, incorporated on March 22, 1958 is a world leader in the supply of foundry consumables and solutions. The foundry process is highly sequential and critically dependent on consistency of product quality and productivity optimisation. Their solutions and advanced computer simulation techniques allow foundries to reduce casting defects such as pinholes, shrinkage cavity, inclusions, scabbing, penetration or veining. Hence the Foseco products reduce labour-intensive fettling and machining, minimise metal usage requirements, influence the metal solidification process and automate moulding and casting, thus reducing cost, energy usage and mould size.
The Company is the Foundry Technologies Division of Vesuvius Group Plc. engaged in supporting the development of global steel and foundry manufacturing processes with new technologies. The Company has manufacturing capabilities in all the main steel and foundry markets as leader in supply of consumable products and solutions.
The Company is engaged in the manufacture of products used in the metallurgical industry. Foseco offers essential components for foundries, acknowledging the critical role of molten metal conditioning, mould characteristics, and metal flow design in determining casting quality and overall foundry efficiency.
Foseco India, a JV company between Greaves of India and Foseco of UK was incorporated in March 22, 1958 as Greaves Foseco. The technical collaborator Foseco UK holds 66.5%(as on March 31, 2003) stake in the company.
The manufacturing activities of the Company are located at Sanaswadi and Puducherry. The range of foundry consumables and equipment for iron, steel and non ferrous foundries includes insulating and exothermic feeding systems, filters for liquid iron, steel and aluminium, direct pour technology, solidification simulation software, non ferrous metal treatment and degassing systems, metal stream inoculation, advanced coatings, environmentally friendly binders, lining systems for ladles and furnaces as well as energy saving crucibles. Apart from these, the conditioning of molten metal, the nature of mould used and, especially, design of the way metal flows into the mould are key parameters in a foundry, determining both the quality of the finished castings and the labour, energy and metal usage efficiency of the foundry. The products and associated services to foundries improve these parameters.
The Company's market covers integrated steel plants like SAIL and TISCO, mini mills like Mukand, Kalyani and Musco; and foundries like Ennore Foundries, Lakshmi Machine Works, etc. It exports products mainly to Middle East, Far East, Sri Lanka, Nepal, Kenya, Ghana, Bangladesh, Singapore & Taiwan.
Foseco ceased all manufacturing and trading activities at Chinchwad from 28th Dec.'99. During 1999-2000, the company has completed the largest project of Navodaya business transformation programme whose charges incurred was Rs.295 lacs along with the final closure of the Chinchwad manufacturing site foundry division.
During March 2000 Burmah Castrol plc was acquired by BP Amoco Plc and in accordance with SEBI Takecover code BP Amoco plc via Burmah Castrol plc a subsidiary company,made a open offer to the public and has acquired 1277292 shares of Foseco India Ltd.
In 2002, the Company increased its installed capacity of Metallurgical Chemicals by 570 Tonnes. With this Capacity Expansion, the total installed capacity of Metallurgical Chemicals increased upto 24830 Tonnes.