Mega-mergers between the “Tata steel” in Europe and thyssenkrupp faces a fresh obstacle in the partnership refuses to support it, if only with a guarantee that jobs in the UK and plants are protected.
The tie-up is aimed at creating and turnover of 13 billion steel giant better able to survive in a fiercely competitive industry that is facing structural problems of the global production capacity far outstrips the demand.
The Memorandum of understanding for the deal was announced in September that would create a 50:50 joint venture able to produce 21 tonnes of steel per year, comprised of 48 000 employees, of whom around 8,500 in the UK.
Called metallkomplekt-m “Tata steel”, the new business will focus on three main components – IJmuiden in the Netherlands,…
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