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Midfield Industries Ltd.

BSE: 533220 Sector: Metals & Mining
NSE: N.A. ISIN Code: INE091K01010
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
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Midfield Industries Ltd. (MIDFIELDINDUS) - Company History

Midfield Industries Ltd is one of leading manufacturers of of Steel Strapping, Seals, packaging tools and accessories in India. The company is a manufacturer, supplier and exporter of steel strappings, strapping seals, strapping tools & machines, accessories, angle boards, edge protectors, ID & OD protectors, pneumatic nailers, nails, PET Straps etc. They are having their manufacturing facilities located at Hyderabad and Roorkee. The company provides packaging consumables like high tensile steel strapping in various dimensions and strengths, Different Seals for different applications, Collated Nails & Corner boards being used for general and the end of line packaging of goods by varied industries. They also provide comprehensive end to end packaging solutions to their customers at their locations which enables them to focus on their core products and competencies. The company provides complete after-sales-service for their packaging tools and machines to their clients. The company's major customers for their products in the domestic market are Essar steel Ltd, Narbada steels Ltd, Saint Gobain Glass India Ltd, Rashtriya Ispat Nigam Ltd, Steel Authority of India Ltd (SAIL), Bharat Aluminium Company Ltd (BALCO), Tata Steel Ltd, National Aluminium Company Ltd (NALCO) and Hindalco Industries Ltd. The company exports their products to USA, UK, Canada, South Africa, Australia and Middle East countries. Midfield Industries Ltd was incorporated on June 8, 1990 as a private limited company with the name Midfield Steels Pvt Ltd. The company was established with the object of tapping an emerging niche segment of industrial packaging in India. In the year 1993, the company started their manufacturing activities setting up facilities at IDA Jeedimetla, Hyderabad to manufacture low tensile steel strapping with an installed capacity of 3600 MTPA. In the year 1998, the company started production of Seals and L-Plates with a capacity of 25 million pieces per year at their existing facilities in Hyderabad. In the year 2000, they increased the capacity of low tensile steel strapping steel strapping to 4800 MTPA. Also, they installed heat treatment plant with a capacity of 3600 MTPA to process low tensile steel strapping into high tensile steel strapping. In the year 2001, the company started export business with first consignment sent to Sri Lanka. In the year 2002, they expanded their product offering by commencing trading in VCI paper used for packaging of various metals to protect them from corrosion. In the year 2005, the company set up a new unit with a capacity of 7200 MTPA for producing low tensile strapping as the existing capacity was unable to meet the demand for steel strapping. Thus, the total capacity increased to 12000 MTPA. In February 2006, the company started production of angle boards with a capacity of 2.5 million meters per year and of collated nails with a capacity of 60,000 coils per year. In April 3, 2006, the name of the company was changed to Midfield Steels Pvt Ltd to Midfield Industries Pvt Ltd. In July 7, 2006, the company was converted into a public limited company and the name was changed to Midfield Industries Ltd. In October 2006, the capacity of collated nails expanded to 120,000 coils per year in Hyderabad. In the year 2007, the company started trading in Polyester strapping and Stretch Films. The company entered into joint venture with Centaur Equipos de Flejado, S.L., a company incorporated in Spain for setting up steel strap manufacturing facility in India. The company upgraded their facilities at Hyderabad by installing a fully automated plant for manufacturing collated nail coils with an installed capacity of 4.20 Lakh coils per annum. In May 2007, they set up a plant at Roorkee, Uttarakhand, for production of Angle board with a capacity of 25 lakh meters per annum. Also, they increased the production capacity at Hyderabad unit by 2.5 million to manufacture angle board. In the year 2008, the company increased the capacity by 2.5 million angle boards per year added at Hyderabad plant taking the cumulative capacity to 10 million meters per year. In the year 2009, the company increased capacity of heat treatment plant to 12000 MTPA to process low tensile steel strapping into high tensile steel strapping. In August 3, 2010, the company's shares are listed on the Bombay Stock Exchange Ltd. The company is in the process of setting up a manufacturing facility in Thane, Maharashtra.