Edition:
United States

Tata Steel Ltd (TISC.BO)

TISC.BO on Bombay Stock Exchange

479.80INR
23 Feb 2017
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Latest Key Developments (Source: Significant Developments)

Tata Steel announces developments regarding European business strategy
Friday, 8 Jul 2016 01:18pm EDT 

: Tata Steel says will now begin process for potential sale of South Yorkshire based speciality steels business and the hartlepool pipe mills in the UK . Tata Steel to explore feasability of strategic collaborations through potential joint venture . Based speciality steels business and the Hartlepool pipe mills in the UK . Tata Steel says entered into discussions with strategic players in the steel industry including Thyssenkrupp AG . Tata Steel says received interest from several bidders for speciality steels and pipe mills in each case, formal process will be commencing shortly (Bengaluru Newsroom +91 80 6749-1130; within U.S. +1 646 223 8780).  Full Article

Tata steel has cancelled the sale of its biggest UK Steel assets- Sky News
Friday, 8 Jul 2016 01:05pm EDT 

Tata Steel Has Cancelled The Sale Of Its Biggest Uk Steel Assets : Sky citing sources .Sky news citing sources.  Full Article

Tata Steel India Q1 FY17 provisional saleable steel production up about 6 pct
Monday, 4 Jul 2016 02:51am EDT 

Tata Steel Ltd : Q1 provisional saleable steel production of 2.4 million tonnes versus 2.2 million tonnes last year .  Full Article

Tata steel UK completes sale of Long Products Europe business to Greybull Capital
Tuesday, 31 May 2016 06:23pm EDT 

Tata Steel UK : From today the Long Products Europe business will trade under the name of British Steel . Tata Steel UK completes sale of long products Europe business to Greybull Capital (Bengaluru Newsroom : +1 646 223 8780).  Full Article

India's Tata Steel evaluating bids for UK assets
Wednesday, 25 May 2016 11:32am EDT 

: Tata Steel exec says we are in the process of evaluating bids for UK assets . Exec says all 7 shortlisted bidders for UK assets are there, some have submitted final bids and some have sought clarity . Exec says net debt of company at 740 billion rupees ($11.00 bln) . Exec says positive that south east Asia steel business will be in green in FY17 . Exec says FY17 capex will be lower than 100 billion rupees . Exec says 30 percent of company's FY17 capex will be spent in Europe . Exec says total debt on Tata Steel Europe is 3 billion euros . ($1 = 67.2888 Indian rupees) ((suvashree.dchoudhury@thomsonreuters.com;)).  Full Article

Tata Steel advises Tata Metaliks to refile fresh merger with Tata Metaliks DI Pipes
Tuesday, 17 May 2016 04:55am EDT 

Tata Steel Ltd : Tata Steel Ltd.- scheme of amalgamation between Tata Metaliks Limited and Tata Metaliks DI pipes limited with TATA Steel Limited . Tata Metaliks will continue to operate as a unit company of Tata Steel . Tata Metaliks been advised to consider withdrawing scheme with leave to re-file fresh scheme for merger with Tata Metaliks di pipes . Decision is based on careful consideration of various factors including inordinate delay in obtaining requisite regulatory and statutory approvals" . Directors' panel approve proposal to file application before bombay high court seeking recall of scheme of amalgamation of units with co .  Full Article

TATA Steel Ltd says cooperating fully with UK's SFO on their criminal investigation - Reuters News
Friday, 8 Apr 2016 09:22pm EDT 

TATA Steel Ltd:Says cooperating fully with UK Serious Fraud Office on their investigation - RTRS.  Full Article

TATA Steel Ltd to sell entire UK operation -BBC - Reuters News
Tuesday, 29 Mar 2016 07:38am EDT 

TATA Steel Ltd:Tata Steel Ltd is expected to announce the sale of its entire UK business, BBC reported citing union sources. - RTRS.Tata Steel's decision was made at Tuesday's board meeting in Mumbai, BBC said.Britain's steel industry has been struggling since European Union steel prices hit their lowest since 2004.Earlier in January, Tata Steel said it would cut 1,050 UK jobs including 750 jobs at Port-Talbot-based operations in Wales.About 4,000 British steel jobs were lost in October 2015 alone, equivalent to about a fifth of the sector's workforce.  Full Article

TATA Steel Ltd to cut 726 jobs from its South Wales plant -Sky News - Reuters
Monday, 25 Jan 2016 07:53am EST 

TATA Steel Ltd:Sky News understands that the firm is proposing a total reduction of 726 from the 4,000-strong workforce at the South Wales plant - Sky News.Meetings with employees have been taking place to set out the plans though individuals were unlikely to have been told their specific circumstances yet, according to Sky sources - Sky News.Proposals seen by Sky News show that of the total number of cuts, 332 will come from the "blue collar" part of the workforce, or 13% of that part of the staff. There are expected to be 394 reductions among "white collar" employees, or 26% - Sky News.  Full Article

Tata Steel UK Ltd announces cost reductions at its UK businesses to improve competitiveness
Monday, 18 Jan 2016 06:13am EST 

Tata Steel UK Ltd:Tata Steel UK Ltd, indirect subsidiary of Tata Steel Ltd, has announced cost-saving proposals to improve the competitiveness of its UK business.Says plans would lead to the loss of 1,050 jobs – 750 jobs at its Port Talbot-based Strip Products UK business, 200 jobs in support functions and a further 100 jobs at steel mills in Trostre, Corby and Hartlepool.Says proposed changes follow continued falls in the European steel price caused by a flood of cheap imports, particularly from China.Says a full consultation process with employee representatives will begin immediately.  Full Article

More From Around the Web

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Thyssenkrupp ends costly Americas venture with CSA sale to Ternium

SAO PAULO/ESSEN Thyssenkrupp AG has struck a deal to sell money-losing Brazilian steel mill CSA Cia Siderúrgica do Atlántico SA to Ternium SA for 1.26 billion euros ($1.3 billion), ending a foray into the Americas that led to years of massive losses.