Kirloskar Ferrous Industries restarts Hiriyur blast furnace amid improving market conditions
Kirloskar Ferrous Industries Limited (KFIL), a principal player in the Indian castings and pig iron manufacturing sector, has announced the resumption of operations at its mini blast furnace located in Hiriyur. This strategic move, effective from April 15, 2024, comes after a brief suspension initiated on February 22, 2024, due to declining demand and falling pig iron prices. The restart aligns with recent positive shifts in market sentiment and an uptick in pig iron prices, signaling a robust comeback for KFIL in response to the favorable market environment.
R. V. Gumaste, Managing Director of KFIL, expressed optimism about the restart, stating, “We are pleased to announce the recommencement of operations at our Hiriyur blast furnace facility. 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.”
The temporary halt in February was a calculated response by KFIL to the adverse market conditions, underscoring the company’s commitment to efficient and sustainable operational management. By pausing operations, KFIL aimed to optimize production costs and maintain economic stability, preparing for a stronger position once market conditions improved.
Founded in 1991, Kirloskar Ferrous Industries Limited has established itself as one of the largest manufacturers of castings and pig iron in India. The company serves diverse sectors including tractors, automobiles, and diesel engines. With manufacturing facilities in Koppal, Hiriyur, and Solapur, KFIL boasts a unique capability to produce a wide range of products from grey iron castings up to 300 kg pieces to various grades of pig iron, including SG iron grade, basic steel grade, and foundry grade.
KFIL is currently expanding its manufacturing capacities in pig iron and casting, integrating advanced technologies like 3D printing to accelerate new product development and enhance production capabilities. The addition of a coke oven manufacturing facility with waste-heat recovery power further highlights KFIL’s innovation in manufacturing processes and commitment to sustainability.
The decision to restart the Hiriyur blast furnace at this juncture is a strategic move by Kirloskar Ferrous Industries Limited, demonstrating their agile approach to market changes and commitment to operational excellence. This proactive management ensures KFIL remains a resilient force in the industry, adept at navigating market fluctuations and poised for continued growth and success.