The problem for Ratan Tata keeps on mounting. His international acquisitions and investments are being hammered by the global slowdown and financial
crunch. To overcome one such problem, Tata Steel, has finally laid down plans to merge its Britain based unit Corus by next year. The merger would make the group the second largest steel producer, next only to the Luxembourg based ArcelorMittal. The move has been taken to cut down on input costs and to save up to 350 million pounds. The merger puts thousands of jobs at risk as issuance of pinks slips seems inevitable. Nevertheless, given the current economic situation and feasible synergies of the alliance with Tata Steel’s construction-related assets which are likely to gain from Corus in the UK and Tata steel contributing through supply of raw materials, it does make sense for Ratan Tata to go ahead in the best interest of the company.
crunch. To overcome one such problem, Tata Steel, has finally laid down plans to merge its Britain based unit Corus by next year. The merger would make the group the second largest steel producer, next only to the Luxembourg based ArcelorMittal. The move has been taken to cut down on input costs and to save up to 350 million pounds. The merger puts thousands of jobs at risk as issuance of pinks slips seems inevitable. Nevertheless, given the current economic situation and feasible synergies of the alliance with Tata Steel’s construction-related assets which are likely to gain from Corus in the UK and Tata steel contributing through supply of raw materials, it does make sense for Ratan Tata to go ahead in the best interest of the company. Read these article :-
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