Incorporated as a private limited company in Sep.'87 Nucor wires (NWL) went public in Jan.'92.It was promoted by N Sebastian and George Joseph. At present, the board is headed by G V K Rao. In Jan.'93, NWL came out with a public issue of equity shares to part-finance Rs 10.65-cr project to manufacture 1800 tpa flux-cored wires in technical collaboration with Alloy Rods Corporation, US. The project is located at Anekal in Bangalore. The company issued rights at a premium in Jan.'95, aggregating Rs 6.75 cr to expand its manufacturing facility from 1800 tpa to 2400 tpa.
NWL has been appointed as on exclusive agent for Stoody Company of the Thermodyne Corporation, US to market their range of welding wires in India. It is also negotiating with Stoody to manufacture its range of repair and maintenance type of welding wires in India. The user-segment includes mining, power, steel and earth-moving equipment.
The company proposes to expand its capacity to 3000 mtpa. It also integrating backward to manufacture precision slit steel strips.