Tata Steel reached a significant milestone in the transformation of its European steel portfolio with the launch of the hundredth new product in its revitalised new product development programme.
Tata Steel revised its new product development activities in 2011 as part of its market differentiation strategy, which delivers innovative products and services to customers who are increasingly demanding advanced, high-tech steels. As part of this, Tata Steel launched an innovative, stronger structural steel product, Celsius® 420, which can reduce the construction time of new buildings.
Photo courtesy of Tata Steel
More than 30 products were launched in 2014. Henrik Adam, Tata Steel’s chief commercial officer in Europe, said: “This vital programme has enabled us to expand our products and services, enhancing existing ones and bringing entirely new ones to market. Many of these new products and services are the direct result of our collaboration with customers. Our advanced steel products give customers a competitive edge and help them succeed in their markets.”
In the past four years, the proportion of differentiated products in Tata Steel’s portfolio has risen significantly. More than a third of the company’s overall sales are now advanced steels.
