RMI Steels Ltd., previously known as ROADMASTER STEEL STRIPS LTD engaged in Manufacturing of Cold Rolled Steel Strips. The Company was promoted by Roadmaster Industries of India Pvt Ltd. (RMI) and the Pradeshiya Industrial and Investment Corporation of U.P. Ltd. (PICUP) in the assisted sector.
The Company entered into technical consultancy arrangement with Mettalurgical & Engineering Consultants (India), Ltd. (MECON) to provide detailed engineering and consultancy services for the implementation of the project. The MECON was also supplying the main 4 Hi/2 Hi Reversible Cold Rolling & Skin Pass Mill manufactured in technical collaboration with Wean United, USA.Commercial production was commenced in the year 1988.
The Company implemented an expansion scheme which it undertook in 2 phases costing about Rs. 180 lakhs in the 1st phase and Rs. 450 lakhs in the 2nd phase. After completion of the 1st phase by October, 1989, the installed capacity was increased by 8,500 tonnes per annum. This was done by adding balancing equipment.As part of its modernisation programme, the company changed its electrically heated furnaces to gas based furnaces which was completed on 1996,
The Company has been referred to BIFR due to heavy losses and the Board haddeclared the company as Sick.