Kirloskar Ferrous
Industries Limited one of the leading castings and pig iron manufacturers in
India, announced yesterday restarting of it’s mini blast furnace at Hiriyur.
In response to challenging
market conditions characterized by weakened demand and declining pig iron
prices, KFIL had temporarily halted operations of the blast furnace at Hiriyur
on 22 February 2024. This strategic decision reflected KFIL's commitment to
prudent operational management amidst fluctuating market dynamics, ensuring
sustainability and efficiency in its production processes.
With the recent upturn in
market sentiment and improvement in pig iron prices, KFIL is pleased to
announce the restart of operations of the Hiriyur mini blast furnace effective 15
April 2024. This strategic move underscores KFIL's proactive stance in
capitalizing on market opportunities while maintaining its reputation for
reliability and resilience in the face of industry challenges.
"We are pleased to
announce the recommencement of operations at our Hiriyur blast furnace
facility," stated Mr. R. V. Gumaste, MD of KFIL. "This decision
reflects our strategic vision to swiftly adapt to evolving market dynamics,
ensuring sustained value delivery to our stakeholders while upholding the
highest standards of operational excellence.”
