Tag Archives: Steel

Tatas complete take over of Usha Martin’s steel business

Tata SpongeNSE 2.68 % has said it has completed the acquisition of Usha MartinNSE 2.84 %’s steel business undertaking including captive power plants, on Tuesday, April 09, 2019. The deal was completed “pursuant to a cash consideration of Rs 4094 crore payable to UML after adjustment for negative working capital and debt like items,” Tata Sponge said in an official… Read More »

Tata Steel UK workers accept cuts to pension benefits

Tata Steel’s (TISC.NS) British workers voted on Wednesday to accept pension benefit cuts in return for safeguards on jobs and investment, although the Indian company’s plan to spin off its entire UK pension scheme still faces regulatory hurdles. Wednesday’s vote allows Britain’s largest steelmaker to close its 15 billion pound British Steel Pension Scheme (BSPS) to future accrual… Read More »

Tata Steel agrees to sell speciality steel biz to Liberty House

India’s Tata Steel Ltd (TISC.NS) said on Thursday its British arm has signed a definitive agreement to sell its speciality steel business to Liberty House Group for 100 million pounds. The deal covers several South Yorkshire-based assets including the electric arc steelworks and bar mill at Rotherham, Tata Steel said in a filing to Indian stock exchanges. Speciality… Read More »

iPhone 8 to have stainless steel frame for its glass sandwich design

It’s long been rumored that the iPhone 8 coming this year will not have a metal unibody construction anymore, instead opting to sport a glass back like Samsung’s recent flagships. It’s also been pretty well established that the phone will have a metal frame in between the glass on the front and that on the rear, thus employing… Read More »

WTO rules largely in favour of Taiwan in steel row with Canada

A dispute panel of the World Trade Organization (WTO) largely ruled in favour of Taiwan on Wednesday on its complaint over anti-dumping duties imposed by Canada on some of its steel goods. The ruling, related to certain carbon steel welded pipes and certain provisions of Canada’s underlying legislation, found that Canada had contravened the WTO’s Anti-Dumping Agreement but… Read More »

Tata Steel may close UK pension scheme – union source

Tata Steel UK is looking at closing its defined benefit pension scheme to future accruals and move members onto a defined contribution pension instead, a union source said on Wednesday. Britain’s largest steelmaker is seeking a way to lessen the British Steel Pensions Scheme’s deficit, which is one of the main stumbling blocks in talks to merge Tata… Read More »

Scunthorpe sale costs hit Tata Steel

Costs related to the sale of its Scunthorpe operations pushed Tata Steel into the red for its first quarter. The Indian company lost 32.9bn rupees (£370m) when it sold its European long products division, based in North Lincolnshire, to Greybull Capital in April for a nominal sum. Tata Steel made a net loss of 31.8bn rupees (£358m) for… Read More »

U.S. locks in hot-rolled steel dumping duties on seven countries

The U.S. Commerce Department on Friday set final anti-dumping duties on hot-rolled flat steel from Japan, South Korea, Turkey, Britain, Brazil, the Netherlands and Australia on Friday, locking in import taxes of 3.7 percent to about 34.3 percent for five years. The ruling, which could still be overturned by the U.S. International Trade Commission, is the latest in… Read More »

Liberty House to submit bid for Tata Steel UK on Tuesday

Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. India’s Tata group announced plans to sell its entire UK steel operation in March, leaving the… Read More »

UK Business Secretary postpones Iran trip to focus on Tata steel crisis

Business Secretary Sajid Javid has postponed a major trade visit to Iran to focus on the future of Britain’s steel industry, a spokesman from the business department said on Tuesday. India’s Tata group announced plans to sell its entire UK steel operation in March, leaving the government battling to save an industry that has been hurt by cheap… Read More »