In this half of the year, the Supervisory Board of ThyssenKruppa may decide on a possible merger of the steel assets of the concern and the European part of Tata Steel. This would create a European market leader for flat products.
The new metallurgical company, formed from the merger of the metallurgical part of ThyssenKruppa and the European assets of Tata Steel, could receive synergies of 400-600 million euros per year. The reduction in employment can reach 4,000 people (2,000 in each group), both in the field of administration and in production.
ThyssenKruppa's board has informed the group's supervisory board about the progress of negotiations for a joint venture with Tata Steel. The research is almost complete. At the end of last year, ThyssenKrupp reached an agreement with IG Metall. Both companies are still negotiating in other countries - the Netherlands and the UK.
The planned joint venture will create a European leader in rolled metal products, employing 48,000 people to achieve a sales value of around 15 billion euros.
ThyssenKrupp and Tata Steel approach merger
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Azovpromstal® 16 April 2018 г. 14:09 |
