HEC reduces financial losses

RANCHI: The Heavy Engineering Corporation (HEC) fared better in 2003-04, with the company registering 7 per cent growth in working order, 5 per cent growth in production and 3 per cent in sales.
With this, the company claims to have considerably reduced its financial losses in the current fiscal.
According to company sources, the foundry and forge plant (FFP) recorded 22 per cent increase in net sales, 25 per cent in production and 47 per cent in order booking, compared to last year.The FFP is one of the important sources for heavy castings like tyres, support rollers, girth gears and gear rims.
Besides, the company produced several items for defence and other strategic sector during the year, including ultrasonic quality forged blooms for the Vikram Sarabhai Space Centre (VSSC) and bulb bars for the Defence Metallurgical Research Laboratory (DMRL).
Moreover, the heavy machine building plant (HMBP) of the company successfully completed the task of reconditioning equipment for paper sector. The HMBP also supplied high precision items of power generation for the Bharat Engineering Electrical Limited (BHEL), during the year. Besides, the HMBP also manufactured and tested primary gas cooler for KMCL and manufactured tap hole drilling for Bokaro Steel Plant (BSL).
However, the company fell short of its target in a number of areas. While the company received only Rs 184.16 crore of work order against a target of Rs 210 crore, it produced items worth Rs 149.40 crore against the target of Rs 196 crore.