Key Developments: Tata Steel Ltd (TISC.BO)
1 Jun 2015
Latest Key Developments (Source: Significant Developments)
New Millennium Iron Corp Announces Signing Of Cooperation Agreement Between TATA Steel Ltd's Tata Steel Minerals Canada Limited And NunatuKavut Community Council
New Millennium Iron Corp announced that Tata Steel Minerals Canada Limited (TSMC) and the NunatuKavut Community Council (NCC) signed a Cooperation Agreement for the Direct Shipping Ore (DSO) Project. TSMC is a joint venture between Tata Steel Limited and NML, which have 80% and 20% interests, respectively. TSMC is developing iron ore deposits in the Canadian provinces of Quebec and Newfoundland and Labrador. TSMC is part of Tata Steel Group of companies. Full Article
The Economic Times reported that Tinplate Company of India Ltd (TCIL) has said there is no proposal to merge with the parent company TATA Steel Ltd. There has been no talk of a merger. There is nothing at the moment, Tinplate Chairman Koushik Chatterjee said. Last year, Tata Steel officials had said the company was mulling options to merge Tinplate for downstream integration. Tata Steel, however, had made an open offer last year that raised holding in Tinplate to 73.45%. Full Article
Business Standard reported that TATA Steel Ltd has signed a five year contract with Safran Group to supply them aerospace steels. The initial value of the contract is in excess of GBP9 million per year, with prospects for this to grow during the life of the agreement. Full Article
LONDON - Tata Steel UK's biggest trade union voted on Friday to go on strike, setting the scene for the biggest labour action in the British steel sector in three decades.