Tata Steel Europe, the European unit of the India-based steel giant Tata Steel, has announced that it has recently conducted a detailed portfolio review of all its businesses to assess their strategic fit and future potential. Based on the review, Tata Steel Europe has begun a process of seeking buyers for business units which supply products to niche markets, allowing the company to continue to strengthen its focus on strategic strip products and markets.
The sale process will cover five business units: Cogent, a manufacturer and processor of electrical steels based in Newport, South Wales (UK), Burlington, Canada and Surahammar, Sweden; Kalzip, an aluminum roofing and cladding business based primarily in Koblenz, Germany; Firsteel which coats steel for kitchen bakeware based in Walsall, West Midlands, UK; Tata Steel Istanbul Metals, a coil coating company using steel bought on the open market, based in Adapazari, Turkey; and Engineering Steels Service Centre (Wolverhampton) which is a stockholder and processes engineering steels, based in Wolverhampton, West Midlands, UK.
Hans Fischer, CEO of Tata Steel’s European operations, stated that these potential sales would enable Tata Steel Europe to focus investment and management resources on its core strip products business and strategic markets.
According to the company’s statement, following the potential sale of these business units, which employ a total of 1,100 people, Tata Steel Europe would continue to employ about 20,000 people manufacturing advanced products for the automotive, construction, engineering and packaging sectors.