The country's oldest steel producer is currently in talks with SSAB Sweden for the sale of its Dutch operations, as it seeks to make a full exit
SSAB earlier on Friday confirmed it is in discussions with Tata Steel Group
In the first quarter of FY21, Tata Steel Europe's EBITDA loss was at Rs 626 crore, owing to a weak European market
Tatas looking for partners in JLR, Steel unit may go lock, stock and barrel
From Tata likely to sell JLR and UK steel operations in UK, Covid-19 drug sales performing well to private train operators allowed to choose halt stations, here are the top news of the day
According to FNV Union, this meant that raw materials were no longer available for the blast furnaces, pellet factory and sinter factory.
JLR bonds trading at record yield of 13.2%, more than double since the pandemic broke out
Baosteel, SSAB also in race for German steel firm
Tata Steel employs around 9,000 people at IJmuiden, about 25 km (15.5 miles) northwest of Amsterdam
UK media reports suggested that the size of the package could be £500 million.
The firm says the overall impact of the current situation on operations and financials yet to be assessed, management is keeping a close watch
It had in November decided to cut 3,000 jobs across its European business
He emphasised that the Port Talbot steelworks in Wales, one of the largest in Europe, needed to be "self-sustaining" in an interview with the Sunday Times
The job cuts had been announced by Tata Steel last week as part of a wider transformation programme
Tata Steel on Monday said it planned to cut 3,000 jobs at its European operations, as the sector wrestles with excess supply, weak demand and high costs.
The outlook revision reflects view that Tata Steel will deleverage slower than earlier expectations as the outlook for steel prices weakened materially over the last three quarters
The company had announced in May 2018 the potential sale of five non-core businesses, enabling it to strengthen its focus on its strategic markets
Inks deal with JFE for Cogent Power
Tata Steel UK is a unit of Tata Steel Europe which comprises European operations of the Indian steel major
A payment of 550 million euros from Tata Steel UK has been made to British Steel Pension Scheme