Tata Steel is looking for a partner for a new venture

According to one of the largest international news and financial information Reuters, a multinational steel company Tata Steel (TISCO) plans to establish a new venture. At the moment, the company is actively looking for a partner for this purpose. Cyrus Mistry, Board member of Tata Steel, up to his dismissal has been active in negotiations with candidates for the role of partner. After his dismissal, predicted a decline in activity on this issue. But today, the company has not ceased activities in this area.

TISCO intend to include in the new venture of its European assets. And, at this stage, as a partner of Tata Steel selects ThyssenKrupp. This is one of the largest industrial concerns of Germany. But while talking about something specific before, as the negotiations are still underway in the preliminary stage. ThyssenKrupp is interested in partnership, because it will reduce the segment’s income associated with volatile metallurgical units.

In parallel with this, is not the question resent British companies Tata Steel. Basically, the difficulties associated with the decision of the government of great Britain to withdraw from the European Union. Already sold part of the company in may, July suspended its transfer to the new owner. Also the question remains about the repayment of large pension Fund deficit Tata Steel UK. For this reason the company is still negotiating with the British government.

October 27 was provided with a letter from the former head of TISCO, addressed to the owner of a controlling stake in the group — Tata Sons. In which he expressed dissatisfaction with the policy of the foreign acquisitions that took place in the 90s and two thousand. Meant that the company was under the leadership of the current temporary representative of the Board R. Tata. Their dissatisfaction misty substantiated risk of loss of assets of the company in the metallurgical industry. Today, they account for more than $ 10 billion. The company, according to experts, it may lose 18 billion dollars. Such losses are associated with investments in unprofitable companies, in the framework of the criticized policies.

This, in turn, RATAN Tata said the need to help troubled businesses. On the background of this statement the implementation of the remaining British assets is in serious question.