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McKinsey & Company has been hired by debt-laden maker of wire rope and steel, Usha Martin, to conduct an economic viability study to improve its profitability. The board of the company includes a nominee from the State Bank of India, and in a statement from its chief financial officer, Rohit Nanda, he said in an interview to Business Standard: “We are getting McKinsey to help us with operational efficiency and reduction in costs to improve profitability of our steel business.” It is believed the assignment will last for one year, with McKinsey devoting particular attention to the firm’s specialty steel part of the business. 

usha martin

Peter Crush for Consultor.news

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