Steel 'combo' takes shape in Europe

Posted on 28 Jan 2018 and read 585 times
Steel 'combo' takes shape in EuropeIn the joint working group set up by the Thyssen Krupp Supervisory Board, the company and trade union IG Metall have concluded an agreement that sets out parameters for the planned ‘combination’ of the European steel activities of Thyssen Krupp (www.thyssenkrupp.com) and Tata Steel Europe (www.tatasteeleurope.com) in a 50/50 joint venture.

The agreement applies to all of Thyssen Krupp’s German steel sites.

The collective agreement will come into force with the start of the joint venture and apply until 30 September 2026.

Thyssen Krupp announced the plan to combine its European steel activities with Tata Steel Europe in September, the aim being to create a leading European flat-steel provider and position it as a “quality and technology leader”.

The new company will have sales of about 15 billion euros and employ around 48,000 people.

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