May 9, 2018 - Tata Steel Europe said it will look to divest five niche businesses so that it can focus its efforts on its strip steel operations.
In a statement, Tata said the businesses going on the sales block include an electrical steel manufacturer and processor, a Turkish coil coating company, and a processor of engineering steel.
“These potential sales would enable Tata Steel Europe to focus investment and management resource on its core strip products business and strategic markets,” said Hans Fischer, chief executive of Tata Steel’s European operations.
“These potential sales follow the successful sale of other non-core businesses in recent years, such as Long Products Europe and Specialty Steels. Under new ownership these former Tata Steel businesses have found the focus to secure a more sustainable future,” he added.