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STEEL DIVISION RESTRUCTURING
ET Prime Special Series: Multibagger or IBC - Part 59: Japan taught it. Tata bought it. Now EVs will test this auto ancillaryThis is a story about a company that is simultaneously an asset and an anomaly. An asset because it builds a tangible, necessary product, g...- Forget fake invoices. The real risk is the assumptions made in the balance sheet to hide lossesMost accounting risks make noise. The biggest one on the Indian balance sheet doesn't. It hides inside growth assumptions, discount rates, ...
- Vedanta listing: Why its aluminium business is the undisputed crown jewel of the mega 4-way demergerFour demerged entities of Anil Agarwal-led Vedanta Group are set to begin trading on Monday, with Vedanta Aluminium Metal Ltd (VAML) expect...
- 4 demerged units of Vedanta to make D-Street debut on MondayOn Monday, Anil Agarwal's diversified commodities empire takes a bold step as four of its companies make their debut listings. This strateg...
- Thyssenkrupp weighs phased sale of TKSE to Jindal Steel International, sources sayGermany's Thyssenkrupp is in talks with India's Jindal Steel International for a phased sale of its steel division. The deal could see Jind...
- Thyssenkrupp deputy chairman to vote against new CEO contract over 'fundamental mistrust'Thyssenkrupp faces internal conflict. Juergen Kerner will oppose CEO Miguel Lopez's contract renewal. This stems from dissatisfaction with ...
- Thyssenkrupp to cut 11,000 jobs at steel division in major corporate shakeupThyssenkrupp Steel Europe will cut 11,000 jobs by 2030. The German steelmaker will also reduce production. The company blames cheaper Asian...
- Mahindra & Mahindra restructures sourcing unit to ensure faster supply"The re-organisation will help the firm streamline the sourcing function and service each of the business units better," said a person priv...
- German conglomerate Thyssenkrupp to scrap 3,000 steel jobsThe elevator-to-submarines group said it had reached a deal with Germany's powerful IG Metall union to cut 2,000 jobs over the next three y...
- Tata Steel India, Europe profitability to sustain in FY18: S&PThe healthy profitability at India-based Tata Steel Ltd (BB-/stable) is in line with our expectations and supports the company's credit qua...
- Sale of long products business won't lower Tata Steel's debt: S&PThe proposed deal will stop Tata Steel's cash losses from the LP division and help somewhat improve profitability for the Europe operations...
- Punjab and Haryana HC approves Jindal Stainless' rejig planThe order copy will thereafter be filed with the office of Registrar of Companies, NCT of Delhi and Haryana, it added.
- Gary Klesch not to buy Tata Steel Europe's long products business after investigating for a yearMistry's plan to turn around Tata Steel’s lossmaking Europe business became more difficult with Anglo-American Gary Klesch pulling out of t...
- Tata Steel may look at further asset reduction in Europe: Cyrus MistryTata Steel Europe has already put its long products business on the block and is narrowing down its focus on promising business units in Eu...
- Jindal Stainless seeks shareholders' approval for business rejigThe approval has been sought through postal ballot. Last month, the company received stock exchanges' nod for the proposed demerger.
- Jindal Stainless gets stock exchanges' nod to rejig businessJindal Stainless today said it has received approval from stock exchanges to restructure its businesses, a move aimed at boosting profitabi...
- Jindal Stainless says no plans to sell stakeJSL would continue to have its Odisha-based stainless steel manufacturing operation, ferro alloys plant and captive power plant, Verma said.
- Tata Steel proposes 900 job cuts in the UKThe group said 580 jobs would go in south Wales with the rest being cut in England as part of proposals to restructure its management.
- Tatas may use Borivali land to build marketing, sales hubThe Tata Group may use a large tract of land in suburban Mumbai as a sales and marketing hub for the conglomerate’s manufacturing operation...
- Kalyani Group in recast mode, to consolidate armsThe Baba Kalyani Group is undergoing a restructuring exercise which would entail the consolidation of its investment arms. The group is loo...
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