Tata Steel Europe is in talks with the European Commission for a joint venture with Thyssenkrupp

Tata Steel has confirmed that the European Commission has initiated an in-depth study of a proposed joint venture between Tata Steel and European steel company Thyssenkrupp. Tata Steel will continue constructive discussions with the European Commission to secure approval of the proposed joint venture.

On September 20, 2017, Tata Steel and Thyssenkrupp signed a Memorandum of Understanding to establish a joint venture for the European steel operations of each business. Tata Steel and Thyssenkrupp announced their definitive joint venture agreements on June 30, 2018. Both parties notified the proposed joint venture to the European Commission on September 25, 2018.

Tata Steel is one of the leading steel producers in Europe, with steel production in the Netherlands and the UK and factories throughout Europe. The company supplies high quality steel products to the most demanding markets including construction and infrastructure, automotive, packaging and mechanical engineering. Tata Steel works with customers to develop new steel products that give them a competitive edge. The combined Tata Steel Group is one of the world's leading companies in the steel industry, with an annual steel production capacity of 27.5 million tonnes and more than 65,000 employees on five continents. Group turnover for the year ended March 2018 was USD 20.4 billion.