Tata Steel, the flagship company of the Tata group is planning to invest more than £1.5 billion in its European operations till 2015-16 to spruce up its existing equipment and bring out new products, among others. It aims to make Tata Steel Europe an all-weather company with these investments, coupled with a series of other measures including layoffs and production cut. As it want Tata Steel Europe to sustain and withstand a much worse condition than the current one.
Tata Steel’s European unit (formerly known as Corus) has faced almost all through so far since it was acquired by the home-grown steel major in 2007. The financial crisis in the Euro-zone economies, which has led to subdued demand for last several quarters, was the main reason for the troubled time.
