CandyDate Jobs Forays Into Steel Plant Labour Supply
CandyDate Jobs have acquired India based UK Steels, a steel plant labour consultancy for an undisclosed amount and has committed an investment of US $10 million.
- (1888PressRelease) April 07, 2011 - CandyDate Jobs, India's largest human resource consultancy by revenue, has forayed into steel plant labour supply business by acquiring 100 per cent stake in Lucknow, India based UK steels for an undisclosed amount.
"Steel, being a core industry, has a positive correlation with the economic growth of the country. Being an essential commodity, its demand will never go down, factories will run forever and labour will always be required." said Rahul Malhotra, Chief Executive of CandyDate Jobs.
CandyDate Jobs have committed a total investment of US $10 million or Rs 45 crore in UK steels within the next few years. UK steels was founded in the year 1983 by Uma Kant Shukla, after his demise last year, the revenues of the company took a beating, forcing an immediate sale of the business. The client list of UK Steels includes Indian steel companies like Bhushan, Jindal and Essar. The total labour employed by the company stands at 11,300.
"The government will have to play a vital role to address and simplify regulatory aspects to facilitate capacity creation in the country, this will increase the number of factories, hence, more job opportunities will be created." said Shubha Shukla, one of the directors at UK Steels.
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