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Tata Steel plans to make European operations sustainable on its own

For the most part since acquiring the Europe operation, Tata Steel's business in India has been funding the former

T V Narendran
T V Narendran

After the collapse of its proposed partnership with ThyssenKrupp, Tata Steel does not plan to form a joint venture for the European operations in the near future.   It will, instead, try to make the European operations sustainable on its own. “As a management, we are not keen on missing out opportunities in India because we have to keep sending cash to Europe. We have told the (Europe) team that the best way for them to control their future is to be cash-positive,” T V Narendran, chief executive officer (CEO) and managing director (MD), told Business Standard.   For ...