The performance of the VSF business was noteworthy, while the sponge iron business suffered due to lower capacity utilisation, a steep rise in input costs on lower global scrap prices. The VSF business saw revenues increase by 6% to Rs.4.41 billion while PBIDT increased by 25% to Rs.1.14 billion. The company has recently announced a JV with Hubei Jing Wei Chemical Fibre Company in China to manufacture VSF fibre. K. M. Birla stated, “Our intent is to grow even further globally in this (VSF) sector... the Asian and Chinese markets offer enormous potential for commodity and speciality fibres, in both of which our Group has a strong foundation.”
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Source:- IIPM-Business and Economy, Initiative:- Prof. Arindam Chaudhuri - 2006
