ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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GCEL-Commendable Progress

to the depreciation reserve and revaluation reserve by Rs 1.80 crore and Rs 18.36 crore respectively. The directors say that the market trend for the company's products since the last quarter of the year has been encouraging and they are hopeful of "a better all round performance in the current year". The company has entered into a technical know-how agreement with Daido Steel Company of Japan with a view to moving into more sophisticated grades of steel wire rods. The phased modernisation- cum-replacement programme in the various divisions is expected to be completed during the current year. The company's 100 per cent export oriented unit obtained a prestigious order from ONGC and has already delivered anchor-line wire ropes in single length each weighing 60 MT After the recent rationalisation of government policy, 100 per cent export oriented units can now utilise domestic production capacities for intermediate operations from the domestic tariff area. This welcome change in the policy will improve the unit's overall capabilityand also substantially broaden its potential. The machinery division at Bangalore has successfully adopted technology for the manufacture of sophisticated cable making machines in collaboration with Stolberger Maschinenfabrik GmbH and Co, KG of West Germany. All important equipment like drum twisters, cable armouring machines, rod break-down machines, etc, necessary for the manufacture of sophisticated cables are now being manufactured in the country thereby saving foreign exchange.

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