Way forward for steel
Company | Courage to change: thyssenkrupp and Tata sign memorandum of understanding
Over the past few months we have conducted intensive talks with Tata over a possible joint way forward.
As a listed company we were unwilling and unable to comment in detail on speculation about this.
But we promised to give you more information as soon as we could. We are pleased that this is now the case and we can provide all parties with more clarity: thyssenkrupp and Tata have signed a memorandum of understanding to combine their European steel operations in a 50/50 joint venture.
That means we intend to establish a new company in which thyssenkrupp and Tata hold equal interests.
We will contribute thyssenkrupp Steel Europe with all its sites and employees to this joint venture.
In addition we also intend to transfer thyssenkrupp MillServices & Systems, currently part of the Materials Services business area, to the joint venture. The name of the company will be thyssenkrupp Tata Steel.
More background information: https://www.thyssenkrupp.com/en/way-forward-for-steel/