With the risk of deflation looming large over Europe, many fear it
might become a distress sale for Tata Steel. This could pinch it hard. After
all, it has spent large sums of money in Europe. In 2007, when Tata Steel
acquired
Anglo-Dutch steel maker
Corus (now Tata Steel
Europe) in a $13-billion deal, it was the biggest foreign acquisition by an
Indian company. Tata Steel subsequently invested another ￡1.2 billion in the UK
operations. Still, the company has struggled for most of the seven-and-a-half
years since then. Tata Steel did not respond to a questionnaire seeking
comment.
"A final sale irrespective of the price will be positive for
Tata Steel in the long-term. Tata Steel has not been able to bring this asset up
to the mark despite investment and restructuring. Perhaps, Klesch will do better
as it has a better track record of turning around assets," a Motilal Oswal
report says. To begin with, the sale could reduce Tata Steel''s European
workforce by over 20 per cent: out of the 30,500 people on the rolls of Tata
Steel Europe, around 6,500 are employed in the units up for sale.
彈簧展
-2015第十六屆廣州國際彈簧工業(yè)展覽會
-全球最大彈簧展會
-巨浪展覽
-The 16th China(Guangzhou)Int’l
Spring Industry Exhibition
