Tata Steel to study sale of UK unit as market worsens
Global oversupply, high manufacturing costs and rising steel exports mean trading conditions in the UK have deteriorated
Tata Steel, the metal-producing arm of India’s biggest conglomerate, will consider selling its UK steel division because of weaker demand and prices, marking a potential reversal of its $12 billion purchase made about a decade ago.
Global oversupply, high manufacturing costs and rising steel exports mean trading conditions in the UK and Europe have “rapidly deteriorated,” and the factors are likely to continue, Mumbai-based Tata Steel said in a statement. Tata Steel Europe’s board...
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