Thyssenkrupp: MoU with Tata Steel.
(CercleFinance.com) - ThyssenKrupp and Tata Steel have announced signing memorandum of understanding by which the German and Indian groups intend to combine their European steel plants through an equally owned joint venture.
ThyssenKrupp is the sharpest riser in the DAX 30 index this morning, up almost 4%.
The new entity's revenues are expected to be around 15 billion euros, with a workforce of 48,000 employees, 34 sites and shipments of around 21 million tonnes of alloy per year.
Synergies are currently estimated at between 400 million euros and 600 million euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
ThyssenKrupp is the sharpest riser in the DAX 30 index this morning, up almost 4%.
The new entity's revenues are expected to be around 15 billion euros, with a workforce of 48,000 employees, 34 sites and shipments of around 21 million tonnes of alloy per year.
Synergies are currently estimated at between 400 million euros and 600 million euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.