Originally the company was established in 1968 as the Metals Division of The Ahmedabad Advance Mills Limited (a textile company of the Tata Group). Prior to the purchase in April 2007 by Friedr. Gustav Theis Kaltwalzwerke GmbH, Germany, it was a part of Tata Steel (founded in 1907), Asia's first and India's largest private sector steel company. The Tata Group is one of the most successful companies in India whose history goes back to 1868, when Jamshedji Nusserwanji Tata started a private trading company, thus laying the foundation of the Tata Group. Friedr. Gustav Theis Kaltwalzwerke GmbH is one of the world's leading cold rolling speciality strip mills and provides the international market with engineered steels made specifically for the needs of the customer. Theis was founded in 1910 and belongs ever since to the same family. It is an exciting acquisition as both companies have a long tradition of core values and innovation. Throughout their long history the companies have adhered with tenacity to the strategy of their founding fathers.

The Cold Rolling Division, established in 1968, pioneered in India cold rolling of stainless steel and later focused on cold rolling of narrow width strips in mild, medium and high carbon and low alloy steels. The division produces in thickness range from 0.07mm to 3.2mm and a width range from 6mm to 460mm. It has a manufacturing capacity of 40,000M.T. per annum.

The Profiles Division, established in 1997 has a manufacturing capacity of 6000M.T. of custom made solid profiles/sections in various grades of steel. The equipment is state-of-the-art technology within the world for hot rolling steel sections and profiles. Rolled from wire rods, electrically heated., unlike conventional billet rolling, these sections have better dimensional tolerances and surface finish than conventionally manufactured sections rolled from billets.

Theis Precision Steel India Private Limited caters to the need of various market segments such as automotive, textile machinery, cutting blades/saws, office machinery, general engineering etc. It is specialised in catering to customized requirements such as desired surface finish, roughness, tempering, dimensional tolerancess and packaging. In addition, the division has the capability of supplying hot rolled solid profiles, cold drawn profiles and profiles in ready-to-use form.

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