Incorporated in 1990, Sweatamber Steel was promoted under the leadership of Narendra Shah and Bhupendra Shah, engaged in the steel industry. Its Plant site is located at Kalol, Gujarat. It came out with a public issue of 21,00,000 equity shares of Rs 10 each for cash at par aggregating Rs 2.1 cr to part-finance the new project.
The company manufactures plates, sheets, structures and machinery bodies. They entered into a new project of processing cold rolled and hot rolled (CR/HR) coils into slits or narrow strips with an installed capacity of 12,000 tpa and also manufacturing fabricated plant machinery, equipment and steel structures with an installed capacity of 750 tpa. Narrow strips find vast applications in the industries like stamping, electrical motors, transformer industries, radiator industries, automobile components, cycle industries, and many others.
The company successfully commenced the processing and marketing of CR/HR coils/slits in Nov.'93 without any cost overrun. In 1995, it successfully commenced the fabrication project.
In 1996, the company took steps to grandually increase the trading business of HR/CR ciols for the better business.