Tata Steel, Thyssenkrupp to merge their business
The Dollar Business Bureau India-based multinational steel company Tata Steel and Germany-based engineering conglomerate Thyssenkrupp have held several discussions about combining their continental European steel business, but didn’t reveal their present situation. The two companies have been discussing the possibilities of collaborations for almost a year now. With this agreement, Tata steel and Thyssenkrupp will probably be the second largest manufacturer of steel in Europe with their combined volume of 22 million tonnes, only behind Luxembourg-based Arcelor Mittal, which has almost doubled the capacity. The joint venture will help the two companies cut capacity and support prices in the sector, which have been crushed by inactive demand and low-cost Chinese imports. On Wednesday, Tata Steel had declared that it was interested in acquiring a ...
Tata Steel announces partnership with IDC in Middle East
Source: PTI Tata Steel has joined hands with a leading UAE-based petrochemical company, aimed at broadening its market base for energy sector products in the Middle East. Recognising the need to have local representation in Abu Dhabi, Tata Steel has announced collaboration with International Development Company (IDC) which will support it in obtaining national oil company approvals that are required in the region. “Tata Steel, along with IDC, will introduce its supply capabilities to oil and gas companies in the region, providing them with an opportunity to work with a supplier who has an excellent track record of providing for offshore and onshore line pipe projects worldwide,” said Richard Broughton, Commercial Manager, Energy and Power, Tata Steel. The deal has come ...
