Be Happy Posted October 20, 2006 Share Posted October 20, 2006 What do people think? I heard about it but dont know the detail. Has there been any news on the implications for the UK manufacturing in Yorkshire? Link to comment Share on other sites More sharing options...
Escafeldia Posted October 20, 2006 Share Posted October 20, 2006 No firm details as far as I can tell. If Maggie Thatcher hadn't privatised the blasted steel industry this particular nail in the British manufacturing coffin wouldn't have been knocked in. How an organisation like Corus can let a little Indian corporation take it over God above knows - it ought to have been the other way. :gag: Link to comment Share on other sites More sharing options...
Heyesey Posted October 20, 2006 Share Posted October 20, 2006 Maybe because the "little" Indian corporation is a god-awful big enormous one? Link to comment Share on other sites More sharing options...
Escafeldia Posted October 20, 2006 Share Posted October 20, 2006 Maybe because the "little" Indian corporation is a god-awful big enormous one? Not from what was said on the news. The Indian operation was said to be smaller and worth less than Corus. It also strikes me that the price they are paying is peanuts to what Corus is worth. £4.3 billion sound low to me. Link to comment Share on other sites More sharing options...
never wrong Posted October 20, 2006 Share Posted October 20, 2006 I dont want to add doom to the gloom but it looks TATA to the jobs in Sheffield Link to comment Share on other sites More sharing options...
Be Happy Posted October 20, 2006 Author Share Posted October 20, 2006 Never wrong - unfortunately thats probably true. The cost comparisons will be alarming. However in some ways its a strange buy - they must want to establish a 'western' presence? Link to comment Share on other sites More sharing options...
never wrong Posted October 20, 2006 Share Posted October 20, 2006 Never wrong - unfortunately thats probably true. The cost comparisons will be alarming. However in some ways its a strange buy - they must want to establish a 'western' presence? and at the same time get rid of the competition Link to comment Share on other sites More sharing options...
DancingDave Posted October 20, 2006 Share Posted October 20, 2006 Corus make a lot of very high quality steels, which TATA don't, and TATA have a lot of capacity in India, which is for lower grade cheaper steels, the two firms combined can be stronger together to take on the combined might of Mittal and Arcelor, only a few weeks ago Mittal Steel, also an Indian company took over Arcelor, the once French goverment owned Steel company. in the Steel business size is now key, there's no way they would pay 4 billion quid for Corus if they were not interested in keeping the business running, 3 or 4 years ago Corus shares were worthless and the company was making losses. The future should be better for Corus after this merger is done. "I'm in the Iron and steel business, - Wife does the ironing, I do the Stealing" (anon) Link to comment Share on other sites More sharing options...
never wrong Posted October 20, 2006 Share Posted October 20, 2006 Corus make a lot of very high quality steels, which TATA don't, and TATA have a lot of capacity in India, which is for lower grade cheaper steels, the two firms combined can be stronger together to take on the combined might of Mittal and Arcelor, only a few weeks ago Mittal Steel, also an Indian company took over Arcelor, the once French goverment owned Steel company. in the Steel business size is now key, there's no way they would pay 4 billion quid for Corus if they were not interested in keeping the business running, 3 or 4 years ago Corus shares were worthless and the company was making losses. The future should be better for Corus after this merger is done. "I'm in the Iron and steel business, - Wife does the ironing, I do the Stealing" (anon) similar setup in our house I do the ironing Link to comment Share on other sites More sharing options...
kal77uk Posted October 20, 2006 Share Posted October 20, 2006 This is brilliant news. Corus is NOT British Steel. Thatcher destroyed the steel industry. I hope the TATA takeover is completed. Sheffield doesnt need Corus. Corus never wanted to be in Sheffield anyway (which is why they made peeps redundant and will shed anymore remaining jobs ). Avesta and Outu Kumpu did exactly the same. Link to comment Share on other sites More sharing options...
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