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Tata Steel looking at more options to revive European business-The 18th China(Guangzhou ) Int’l Casting product Exhibition
8/17/2016 铸件展-铸件展会-casting expo |
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domain-b reported that Tata Steel on Friday said it has expanded its search for alternatives to sustaining its European business, including its UK operations, so as to emerge a strategic player in the European market. Consequently, Tata Steel has widened its conversation and is talking to several players, including the German giant Thyssenkrup, group chairman Cyrus Mistry said without disclosing details on future plans.
The board of Tata Steel has decided to also look at alternative and more sustainable portfolio solutions for the European business.
Tata Steel, which has entered into discussions with strategic players in the steel industry, including Thyssenkrupp AG, has also initiated discussions with several companies to explore the feasibility of strategic collaborations through a potential joint venture.
However, the talks are currently at a preliminary stage and there can be no certainty of a transaction as the outcome depends on consultation and negotiations with various stakeholders.
Tata Steel''s group chief financial officer Koushik Chatterjee told reporters on the sidelines of the 109th annual general meeting that "As far as our European operations are concerned, we are in talks with several players. Thyssenkrup is one of them. When we come to a finality in this subject we will disclose.”
Tata Steel, which put its UK assets on the block on 29 March, after reporting heavy operational losses, has so far failed to get a buyer.
-The 18th China(Guangzhou ) Int’l Casting
product Exhibition
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