Tata Steel and ThyssenKrupp AG on Saturday signed definitive agreements to combine their European steel businesses in a 50/50 joint venture in a new company. This follows the signing of a Memorandum of Understanding in September 2017.
The new company will be called ThyssenKrupp Tata Steel BV, and will be based in Netherlands. The merged entity will have capacity to produce 21 million tons of steel a year, making it the second largest steelmaker in Europe after ArcelorMittal.
ThyssenKrupp Tata Steel BV will have 48,000 employees across 34 sites. The company will have a revenue of about Euros 15 billion. Read More
Latest posts by Moneycontrol.com (see all)
- Fuel price today: Petrol reaches Rs 77.83, diesel Rs 68.76 in Mumbai - September 17, 2019
- Drone attack on Saudi plants may lift oil prices by $5-7/bbl; IOC, HPCL, BPCL, GAIL in focus - September 15, 2019
- Crude oil futures up on spot demand - September 13, 2019