Tata Steel is not looking for a new partner in Europe, but is instead focusing in making the European business profitable in the coming years and reducing the dependence of the unit from the Indian company. So said Tata Steel chief executive TV Narendran in an interview.
Following the collapse of the plan to merge the activity of Tata Steel Europe with Thyssenkrupp, many rumours have circulated regarding possible new solutions for Tata Steel Europe. The executive confirmed that some companies are interested in starting discussions with Tata Steel Europe, but noted that the group’s management plan is now focused solely on the relaunch of the business. After 2021 things will be evaluated again, Kallanish understands.
In late June the company also appointed a new head for its European unit, Henrik Adam.
In the second quarter this year Tata Steel Europe saw sales decline -7% on-year to 2.2 million tonnes, while production decreased -5% to 2.66mt. Tata Steel Europe produces crude steel in the UK and the Netherlands. The company rationalised its production last year and is currently not under pressure to further cut output, Narendran explained.