Tata Steel Europe to decide long products business fate in 4-5 months

MUMBAI: Tata Steel will decide on the strategic alternative for its loss-making long products business in Europe in the next four to five months.

"We will have to look strategically and see if there is any other buyer or if we can resize the business to make it sustainable," said Koushik Chatterjee, group executive director - finance and corporate.

He spoke to the reporters after the steelmaker's annual general meeting on Wednesday.

Chatterjee added that the company will need at least 4-5 months to understand which of the options solves the long products business problem.

Klesch Group which was in talks to buy the long products business pulled out last week, citing poor demand and high energy costs in Europe.

Tata Steel has decided to focus on the more profitable strip business in Europe.