Tata Steel's Corus may extend output cut Into 2nd quarter
Corus, the UK unit of India's Tata Steel Ltd, may extend a 20% reduction in output into the second quarter as demand slows.
By Agencies |
LONDON: Corus, the UK unit of India's Tata Steel Ltd, may extend a 20 per cent reduction in output into the second quarter as demand slows.
Corus will keep the 20 per cent reduction implemented for the current quarter in the first three months of 2009, the unit's Chief Executive Officer Philippe Varin told reporters today at the opening of a plant in Shotton, north Wales.
Steelmakers from Asia to Europe and the US are slashing growth plans as the global economy slows. ArcelorMittal, the world's biggest steelmaker, Russia's Severstal and Posco, Asia's largest producer of stainless steel, are among companies reducing output or reviewing plans.
Corus will keep the 20 per cent reduction implemented for the current quarter in the first three months of 2009, the unit's Chief Executive Officer Philippe Varin told reporters today at the opening of a plant in Shotton, north Wales.
Steelmakers from Asia to Europe and the US are slashing growth plans as the global economy slows. ArcelorMittal, the world's biggest steelmaker, Russia's Severstal and Posco, Asia's largest producer of stainless steel, are among companies reducing output or reviewing plans.
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