Tata Steel Limited recently outlined a programme to reduce costs and improve product mix at its European operations, which are held by the company's wholly-owned subsidiary, Tata Steel UK Holdings Limited (TSUKH).
The planned cost rationalisation is credit positive for both companies as it will support a turnaround in TSUKH's less profitable operations that have impacted Tata Steel's consolidated credit quality, said Moody's Investors Services in a report. The European operations accounted for 35 per cent of Tata Steel's total shipments in the first half of ...
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