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Thyssenkrupp in talks with Tata Steel about European steel plants

Staff Writer |
Thyssenkrupp confirmed that it is in talks with India's Tata Steel about a consolidation of beleaguered European steel mills.

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Tata Steel said it had suspended the process of selling its troubled UK arm while it held talks with potential partners, including Thyssenkrupp, about alternative and more sustainable solutions for its entire European business.

In addition to its UK operations Tata Steel Europe also owns the former Hoogovens steel plant in the Netherlands.

Tata had said in a statement that the talks, which could include a possible joint venture, were at a preliminary stage and the European approach was in addition to its attempts, launched in March, to sell its main British steelmaking operations, which include its Port Talbot blast furnace plant in southern Wales.

The firm said the British vote to leave the European Union, and the outcome of the UK government's consultation on Tata Steel UK's British Steel pension scheme, had prompted a rethink on the sale.

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