Uk Tata Steel Plant

Tata Steel said on Friday it could close its major plant at Port Talbot in Wales unless it receives British government aid of 1.5 billion pounds ($1.8 billion) to help decarbonise production.

Tata Steel is one of Europe's prominent steel producers, with steelmaking in the UK and the Netherlands, and manufacturing plants across Europe.

Earlier some reports claimed Tata Motors is looking for a strategic partner for Jaguar Land Rover (JLR) after talks with the British government on a financial rescue package has failed. The company reportedly is also planning to sell off its UK steel plant lock, stock, and barrel. However, the Indian auto manufacturer has completely denied this rum...

The Tata group has been in talks with German major ThyssenKrupp for a potential merger, which is also predicated on a solution to the pension scheme.

British Steel began operating the Scunthorpe plant after Tata Steel had sold the unit to investment group Greybull Capital for a token 1 pound in June last year.

Last month, Tata Steel UK offered British unions a deal guaranteeing jobs and investment in return for pension cuts.

Tata Steel UK's future depends upon a solution for the14-billion-pound British Steel Pension Scheme, the liabilitiesof which it took on when it acquired Corus.

Tata Steel is exploring a joint venture with Germany's ThyssenKrupp and one of the options would have meant job losses at the plant employing around 4,000 as a result of shutting down of one of two blast furnaces on the site.

Central to the plan is retention of Port Talbot's two blast furnaces, which turn iron ore and coke into molten iron.

Tata Steel and Thyssenkrupp are looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales, industry sources said, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry.

Prime Minister Theresa May, on a visit to India to drum up trade after Britain voted to quit the European Union, said she's been unable to arrange a meeting with senior figures at Tata Sons Ltd. amid uncertainty over the company's plans for its steel plants in the U.K.

Tata Steel officials told analysts that there were no concerns about the group's steel business stemming from the exit of former chairman Cyrus Mistry as boss of Tata Sons.

Britain said on Monday that it could still take a stake in Tata Steel's largest assets, including the Port Talbot plant, or offer loans in order to find a buyer after the Indian steelmaker said it was pausing the sale.

Thyssenkrupp, Germany's biggest steelmaker, confirmed on Sunday that it is in talks with Tata Steel about a consolidation of beleaguered European steel mills that are hit by overcapacity, weak demand and cheap imports.

Tata Steel put its British operations up for sale in March, including its Port Talbot plant in southern Wales, threatening thousands of jobs, but an industry source told Reuters on Thursday that the sale had been put on hold.

Tata Steel said on Friday it could close its major plant at Port Talbot in Wales unless it receives British government aid of 1.5 billion pounds ($1.8 billion) to help decarbonise production.

Tata Steel is one of Europe's prominent steel producers, with steelmaking in the UK and the Netherlands, and manufacturing plants across Europe.

Earlier some reports claimed Tata Motors is looking for a strategic partner for Jaguar Land Rover (JLR) after talks with the British government on a financial rescue package has failed. The company reportedly is also planning to sell off its UK steel plant lock, stock, and barrel. However, the Indian auto manufacturer has completely denied this rum...

The Tata group has been in talks with German major ThyssenKrupp for a potential merger, which is also predicated on a solution to the pension scheme.

British Steel began operating the Scunthorpe plant after Tata Steel had sold the unit to investment group Greybull Capital for a token 1 pound in June last year.

Last month, Tata Steel UK offered British unions a deal guaranteeing jobs and investment in return for pension cuts.

Tata Steel UK's future depends upon a solution for the14-billion-pound British Steel Pension Scheme, the liabilitiesof which it took on when it acquired Corus.

Tata Steel is exploring a joint venture with Germany's ThyssenKrupp and one of the options would have meant job losses at the plant employing around 4,000 as a result of shutting down of one of two blast furnaces on the site.

Central to the plan is retention of Port Talbot's two blast furnaces, which turn iron ore and coke into molten iron.

Tata Steel and Thyssenkrupp are looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales, industry sources said, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry.

Prime Minister Theresa May, on a visit to India to drum up trade after Britain voted to quit the European Union, said she's been unable to arrange a meeting with senior figures at Tata Sons Ltd. amid uncertainty over the company's plans for its steel plants in the U.K.

Tata Steel officials told analysts that there were no concerns about the group's steel business stemming from the exit of former chairman Cyrus Mistry as boss of Tata Sons.

Britain said on Monday that it could still take a stake in Tata Steel's largest assets, including the Port Talbot plant, or offer loans in order to find a buyer after the Indian steelmaker said it was pausing the sale.

Thyssenkrupp, Germany's biggest steelmaker, confirmed on Sunday that it is in talks with Tata Steel about a consolidation of beleaguered European steel mills that are hit by overcapacity, weak demand and cheap imports.

Tata Steel put its British operations up for sale in March, including its Port Talbot plant in southern Wales, threatening thousands of jobs, but an industry source told Reuters on Thursday that the sale had been put on hold.