YEAR EVENTS 1982 - The Company was incorporated on 31st July 1982. It manufactures Sponge Iron. The Company was promoted jointly by the Industrial Promotion & Investment Corporation of Orissa Ltd. and The Tata Iron & Steel Co. Ltd. to set up in the joint sector a plant for the manufacture of sponge iron. - The company decided to employ the TISCO Direct Reduction (TDR) process for the manufacture of sponge iron which is 100% non-cooking coal based. TISCO were appointed technical consultants for the project. TISCO were not only to supply know-how but were also to provide basic engineering under a technical collaboration agreement. - Under the technical consultancy agreement TISCO would provide technical consultancy comprising design/project engineering, project management, project implementation, etc., as well as the technical know-how for the TDR process. - The Tata Iron & Steel Co. Ltd., indicated their willingness to purchase the entire output of the company at rulling market prices for use at Jamshedpur. The Company also received many enquiries for supplying sponge iron from other foundries, electric furnace, steel makers, etc. 1984 - 70 shares subscribed for by the signatories to the Memorandum of Association. 31,99,970 shares reserved and allotted to IPICOL and 29,99,960 shares reserved and allotted to TISCO. 58,80,000 shares offered at par for public subscription during June-July. 1986 - The Company became a potentially sick company as more than 50% of the peak networth during the year had got eroded. 1987 - The kiln had to be shut down for replacing a part of the original refractory lining. The Company faced multifarious problems such as refractory failure, malfunctioning of some important equipments etc. In addition, for want of iron ore, the plant was shut down for 105 days in the first half of the year and for 47 days in the second half of the year. - To overcome the raw material shortage, the company entered into a conversion arrangement with Tata Steel at a mutually agreeable conversion rate. - Tata Steel proposed to install 2 small crushers within the plant to crush the lump iron ore which was easily available. The Company installed two captive DG sets each of 1000 KVA capacity. - The Company entered into a foreign collaboration agreement with M/s. Lurgi GmbH for upgradation of annual production capacity from 90,000 to 1,20,000 TPA. 1988 - A reference was therefore made to BIFR the hearing of which was held on 13th September. As directed by BIFR, necessary rehabilitation package was submitted to IDBI, the lead financial institution, seeking certain reliefs/concessions together with a loan of Rs 385 lakhs for implementing the lurgi modification scheme mentioned below under the caption `Foreign Collaboration'. 1989 - Financial institution sanctioned certain reliefs/concessions to the company. - The Company received the Industrial licence for increasing its capacity to 1,20,000 TPA. 1990 - Production declined to 58,676 tonnes due to 109 days plant shut down for implementation of the modification-cum-upgradation scheme followed by two more shut downs for a total period of 61 days for overcoming teething troubles. - The final package containing certain reliefs and concessions sanctioned by BIFR was received by the company and its implementation began during the year. 1993 - BIFR vide its order dated 29th October, declared the company to be out of its purview consequent upon making its net worth positive and earning net profit. 1994 - The operations of the company affected primarily because of charging off of extra-ordinary items like sales tax, enhanced interest to Financial Institution, differential interest to TISCO etc. - 34,00,000 No. of equity shares allotted at par on conversion of loan to financial institution. 1995 - The expansion project for raising the capacity from 1,20,000 TPA to 2,40,000 TPA by installation of an additional kiln was now under implementation. 1996 - Profitability decreased due to increase in input cost and hike in power tariff. - Effective 24th September, the name of the company was changed from `Ipitata Sponge Iron Ltd.' to `Tata Sponge Iron Ltd'. 1997 - After achieving the prestigious ISO-9O02 Certification, the Company continued its march towards Total Quality Management. - The Company has excellent track record in the area of safety and has bagged first prize for two consecutive years from Government of Orissa. - The Company received first prize in the category "Lowest Weighted Frequency Rate of Accident", and for the year under review, it was awarded first prize for "The Longest Accident Free Period". A trophy and certificate have been received for the same. - The Company undertook community and rural developmental activities, such as provision and maintenance of tube wells for potable drinking water, construction of school in Indraprastha village, repairing and adding class rooms in Bilaipada schools, aiding in cash and kind in organising sports activities. 1998 - The Railway siding was commissioned on 29th March, and the Company has since started receiving coal by rail and back loading sponge iron from the siding. - During the year the Company secured second position in the market share of eastern India and has plan to notch-up top position in the coming years. - The Company has been actively participating in the promotion of educational and social welfare activities for the inhabitants in its surrounding villages. 1999 - During the year, the company entered new markets and despatches have been made for the first time to markets in the north-east from the company's newly constructed railway siding. - The company has started development work at the Khondbond Mines of Tata Steel and work is in advanced stages of completion. 2001 - Mr. I.S.P. Shetti has retired as Managing Director and Mr Ashok Pandit has been appointed in his place. 2002-IDBI sold 790647 shares of Tata Sponge Iron 2004-The trading symbol of Tata Sponge Iron Limited shall be changed from 'IPITATASPO' to 'TATASPONGE' w.e.f February 11, 2004 -Delist from Ahmedabad Stock Exchange with effect from October 15, 2004. -Delist from The Delhi Stock Exchange Association Ltd (DSE) with effect from December 11, 2004. -LIC launches Jeevan Akshay-III 2006 -The Company along with Messrs Scaw Industries Ltd and SPS Sponge Iron Ltd have been allotted a coal block by the Coal Ministry. -The company has recommended a dividend of 40% (Rs 4/- per share). 2007 -Mr. P C Parakh and Mr. Suresh Thawani has been appointed as Additional Director on the Board of the Company. Mr. Suresh Thawani has also been appointed as the Managing Director of the Company. -Mr. Sudhir Deoras has again been appointed as Additional Director in the non independent and non-executive capacity . -The Company has recommended a dividend of 40% (i.e. Rs 4 per equity share). 2008 -The Company has recommended a dividend of 70% (Rs 7/- per share). -Tata Sponge Iron bags Golden Peacock Natioanal Quality Award. -Earth Care Award 2008 for Tata Sponge. 2009 -The Company has recommended a dividend of 80% (i.e. Rs 8 per equity share). --Mr. A.M. Mishra has been appointed as Director and Chairman of the Company. -Tata Sponge receives OHSAS certification -Tata Sponge wins CII award -Tata Sponge Bags State Safety Award -Exhibition on Green Technologies at Bhubaneswar -GreenTech Environment Gold Award 2009 2010 -The Company has recommended a dividend of Rs. 8/- per equity share (i.e. 80%). -Tata Sponge Registers Superior Plant Performance -Tata Sponge bags SPCB Environment Award for 2010 -Tata Sponge wins Green India Award for Environment Excellence 2011 -Mr. Manoj T. Thomas has been appointed as Additional Director (Non-executive and Independent) of the Company. -The Company has recommended a dividend of Rs. 8.00 per equity share (i.e. 80%). 2012 -The Company has recommended a dividend of Rs. 8 per equity share (80%). -Mr.Sundararamam Dwaraka Bhamidipati has been appointed as Additional Director (Non-executive and Non-independent). - Mr. Manoj T. Thomas, who was appointed as Additional Director (Non-executive and Independent) has been confirmed Director. -Mr. S. Srikanth has been appointed as Director (Independent and non-executive). 2016 -Tata Sponge Iron Ltd jumped over 5 per cent on the Bombay Stock Exchange after the company emerged as a successful bidder for award of 24,000 tonnes per annum of coal. 2017 -Tata Sponge Odisha plant gets nod to raise capacity to 425,000 tonnes. 2018 -CCI approves Tata Sponge Iron's acquisition of Usha Martin's steel business. 2019 -Company name has changed to Tata Steel Long Products Ltd. from Tata Sponge Iron Ltd. -Tata Sponge Iron Limited completes the acquisition of steel business undertaking of Usha Martin Limited. 2021 -Amalgamation of The Indian Steel and Wire Products Limited with Tata Steel Long Products Limited.