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Analysis: Thyssen-Tata merger puts Port Talbot plant at risk of job cuts

The merger will forge Europe's No 2 steelmaker after ArcelorMittal

Reuters  |  London / Frankfurt 

Plagued by poor earnings, Britain's biggest steel plant, located in Port Talbot, is likely to be first in line for job and output cuts after the planned European merger of Thyssenkrupp and Tata Steel, industry sources told Reuters. Germany's Thyssenkrupp and India's Tata Steel have signed a memorandum of understanding for a 50-50 joint venture which, if approved, would forge Europe's No.2 steelmaker after ArcelorMittal, with sales of around 15 billion euros ($17.70 billion). The merger was driven chiefly by a need to address chronic overcapacity in Europe's ...

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First Published: Tue, October 03 2017. 08:03 IST