THE EUROPEAN CONSOLIDATION BOARD


                                      European Consolidation Board for Foreign Industry (ECBFI)

News

EUROPEAN CONSOLIDATION BOARD TO ASSIST STEEL GIANT TATA

Posted on March 9, 2017 at 4:50 AM

Tata Steel & The European Consolidation Board for Foreign Industry continues to pursue its European consolidation strategy and is in talks with Thyssenkrupp AG for potential JV for European steel business, following purported disclosure from ousted chairman Cyrus Mistry that some group firms could face a potential writedown of $18 billion.

 

“In response to the recent media reports, Tata Steel would like to clarify that it continues to pursue its European consolidation strategy and the talks with Thyssenkrupp AG (as announced on July 8, 2016) for a potential joint venture of its European steel business are currently ongoing and progressing,” Tata Steel said in a BSE filing.

 

The company put it on record that Tata Steel UK is also deeply engaged with all relevant stakeholders in the UK to find a structural solution and a way forward with regard to the affordability of the legacy pension scheme liabilities.

 


Categories: None