thyssenkrupp: 'good progress' on joint venture with Tata
(CercleFinance.com) - German's thyssenkrupp said on Thursday that its planned joint venture with India's Tata in European steel was making "good progress," with the due diligence of both businesses now almost complete.
The industrial giant said experts appointed by both sides have confirmed strategic and operational synergies of between 400 million euros and 600 million euros, including planned reductions of up to 4000 jobs in administration and production.
thyssenkrupp said the board have to decide on the joint venture in the first half of 2018.
The new company is expected to have sales of approximately 15 billion euros and employs about 48,000 people.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The industrial giant said experts appointed by both sides have confirmed strategic and operational synergies of between 400 million euros and 600 million euros, including planned reductions of up to 4000 jobs in administration and production.
thyssenkrupp said the board have to decide on the joint venture in the first half of 2018.
The new company is expected to have sales of approximately 15 billion euros and employs about 48,000 people.
Copyright (c) 2018 CercleFinance.com. All rights reserved.