Tata Steel’s UK, Europe Units Struggling
The UK arm of Tata Steel has reportedly sought an estimated £500 million ( ?4,750 crore) from the British government to survive the coronavirus lockdown period. Though Tata Steel’s India operations are the most profitable in the industry, Tata Steel Europe has burnt free cash flow of nearly ?26,0
Published -
Apr 30, 2020 5:15 AM
The UK arm of Tata Steel has reportedly sought an estimated £500 million ( ?4,750 crore) from the British government to survive the coronavirus lockdown period. Though Tata Steel’s India operations are the most profitable in the industry, Tata Steel Europe has burnt free cash flow of nearly ?26,000 crore between FY14 and FY19. Since the Corus acquisition in 2007, has not been able to generate profits.
Tags : ALLIED Tata Steel Europe UK coronavirus lockdown British government