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Friday, 15 February 2019 10:18

Tata Steel prepares for merger with ThyssenKrupp

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Tata Steel is considering selling its Trostre steel packaging plant in Llanelli if it mergers with German steel giant ThyssenKrupp to appease the EU.

Tata Steel has two steel packaging plants in Trostre and Duffel in Belgium which employ over 1,000 workers combined making food and aerosol cans.

They have already put the specialist electric steel venture Cogent, based in Newport, up for sale.

During the process, worker’s union Unite expressed their concern over the workers and their jobs.

Unite’s national officer for steel, Tony Brady said: “We are aware that the European Commission is likely to order Tata Steel to sell some of its packaging operations so that the much needed joint venture with ThyssenKrupp gets the green light.

“Unite is monitoring the situation and engaging with Tata Steel as we seek to ensure that workers are not left high and dry or subject to any fire sale as a result of a European Commission ruling.

A Tata spokesperson said: “Tata Steel and ThyssenKrupp are committed to following due process with the directorate-general for competition to seek approval for the proposed joint venture of their European steel businesses.

“Both companies are committed to working closely with all relevant regulators to ensure the success of this transaction.”

Source: Wales Online

Additional Info

  • Continent: Europe
  • Category: Business