1.TATA group as a whole. 2.TATA steel as a co.(all details) 3.When merged with corus and why?xplain in detail.? 4.

Revenue after merging with the corus co. 5. latest investments

TATA group as a whole.

is an Indian multinational conglomerate company headquartered in the Bombay House in Mumbai, India.[3] In terms of market capitalisation and revenues, Tata Group is the largest private corporate group in India. It has interests in communications and information technology, engineering, materials, services, energy, consumer products and chemicals. The Tata Group has operations in more than 80 countries across six continents and its companies export products and services to 80 nations. The Tata Group comprises 114 companies and subsidiaries in eight business sectors,[4] 27 of which are publicly listed. 65.8% of the ownership of Tata Group is held in charitable trusts.[5] Companies which form a major part of the group include Tata Steel (including Tata Steel Europe), Tata Motors (including Jaguar and Land Rover), Tata Consultancy Services, Tata Technologies, Tata Tea (including Tetley), Tata Chemicals, Titan Industries, Tata Power, Tata Communications, Tata Sons, Tata Teleservices and the Taj Hotels.

With a 150-year heritage, the Tata group has grown to over 90 companies, operating in more than 80 countries, and in widely diverse sectors. Tata companies are pioneers and leaders in fields ranging from crop protection and nutrition to fibre optic communication systems, from drug discovery and development to supercomputing technology and e-commerce, and from personal armour to personalised jewellery.

IT and communications The Tata group has several well-established enterprises that are leaders in their respective fields, such as Tata Consultancy Services, which is among the top global providers of information technology solutions. Tata operations in this sector cover: IT Telecom E-commerce Industrial automation Supercomputing

IT enabled services BPO E-learning Television

COMPANIES IN THIS SECTOR

--information technology--

--communications--

Engineering products and services The Tata group has a robust presence in engineering, with Tata Motors ranking among the top five providers of buses and commercial vehicles worldwide. The group also offers a variety of other engineering products and services. Tata operations in this sector cover:

Automobiles Auto design Project management Infrastructure

Auto parts Project consultancy Technology

COMPANIES IN THIS SECTOR

--automotive--

--engineering--

Materials The Tata group is among the global leaders in this business sector, with Tata Steel ranking as the world's 10th largest steel manufacturer. Tata's portfolio comprises advanced composite materials apart from a wide range of steel-based products and solutions, Tata operations in this sector cover: Iron and steel products Advanced composite materials

COMPANIES IN THIS SECTOR

--metals--

--composites--

Services The Tata group has widespread interests in the hospitality business, predominantly with the Taj and Ginger chains, as also in insurance, real estate, finance and other services. Tata operations in this sector cover: Hotels Insurance Finance Management consultancy
--hotels, property development--

Air charters Real estate Logistics Publishing

COMPANIES IN THIS SECTOR

--financial services--

Tata Industrial Services

Energy The Tata group is a significant player in all aspects of the power sector, ranging from coal mining to power distribution. It is also involved in the oil and gas segment.

Tata operations in this sector cover: Thermal, wind and solar power Transmission Oil exploration
--energy--

Trading Distribution

COMPANIES IN THIS SECTOR

Consumer products The Tata group has built up a strong connect with the customer with its inherent promise of quality and trust. From its popular Westside chain to the wide network of Titan stores, Tata is well-entrenched in the retail and consumer segments. Tata operations in this sector cover: Beverages Electronic items Retail chains Jewellery Books
--consumer products--

Food products Decor Watches Eyecare

COMPANIES IN THIS SECTOR

Chemicals The Tata group is one of the largest producers of soda ash in the world. Additionally, it has interests in fertilisers and in the pharmaceuticals business.

Tata operations in this sector cover:

Drug development Pesticides Pigments

Fertilisers Industrial chemicals

TATA steel as a co.(all details)

Tata Group of Companies

This section lists the Tata companies and details their business: Chemicals
Tata Chemicals Rallis India Tata Pigments Limited General Chemical Industrial Products Brunner Mond Advinus Therapeutics Magadi Soda Company Tata Salt I-shakti Casa Dcor Tata Swach Tata Global Beverages Eight O'Clock Coffee Tata Ceramics Infiniti Retail Tata Tea Limited is the world's second largest manufacturer of packaged tea and tea products. Tetley Tata Coffee Tata Industries Titan Industries Trent (Westside) Crom

Consumer Products

Tata Sky TajAir Tata International Ltd. Tanishq Tata Refractories Westland Tata Power is one of the largest private sector power companies. Tata BP Solar, a joint venture between Tata Power and BP Solar Hooghly Met Coke and Power Company Jamshedpur Utilities and Services Company North Delhi Power Powerlinks Transmission Tata Power Trading Tata Projects TAL Manufacturing Solutions Tata AutoComp Systems Limited (TACO) Hispano Carrocera Tata Motors, manufacturer of commercial vehicles (largest in India) and passenger cars Jaguar and Land Rover Tata Daewoo Commercial Vehicle Tata Projects Tata Consulting Engineers Limited Tata Cummins Telco Construction Equipment TRF Voltas, consumer electronics company Voltas Global Engineering Centre Tata Advanced Materials Tata Advanced Systems Tata Motors European Technical Centre Tata Petrodyne Tata Precision Industries

Energy

Engineering

Information systems and Communications

Computational Research Laboratories INCAT Nelco Nelito Systems Tata Business Support Services Tata Consultancy Services Ltd. (TCS) is Asia's largest software company. Tata Elxsi Tata Interactive Systems Tata Technologies Limited Tata Teleservices Virgin Mobile India Tata Communications CMC Limited VSNL International Canada Tatanet, Managed connectivity and VSAT service provider Tata Teleservices Tata Teleservices (Maharashtra) Tatanet Tata Sons The Indian Hotels Company Ginger Hotels Roots Corporation Landmark Tata Housing Development Company Ltd. (THDC) Tata Limited TATA AIG General Insurance TATA AIG Life Insurance Tata AG Tata Asset Management Tata Financial Services Tata Capital Tata International AG Tata Investment Corporation Tata Advanced Systems Limited Drive India Enterprise Solutions

Services

Mjunction services Tata Quality Management Services Tata Realty and Infrastructure Limited Tata Interactive Systems Tata Africa Holdings Tata AutoComp Systems Tata Industrial Services Tata NYK Tata Services Tata Strategic Management Group Telco Construction Equipment Tata Steel Tata Steel Europe Tata Steel KZN Tata Steel Processing and Distribution JAMIPOL NatSteel Holdings Tata BlueScope Steel Tata Metaliks Tata Sponge Iron Tayo Rolls The Tinplate Company of India TM International Logistics

Steel

[edit] Philanthropy and nation building

The Tata Group has helped establish and finance numerous quality research, educational and cultural institutes in India.[10][11] The Tata Group was awarded the Carnegie Medal of Philanthropy in 2007 in recognition of the group's long history of philanthropic activities. [12] Some of the institutes established by the Tata Group are:
Tata Institute of Fundamental Research Tata Institute of Social Sciences Indian Institute of Science National Centre for Performing Arts Tata Management Training Centre Tata Memorial Hospital Tata Football Academy Tata Cricket Academy

Tata Trusts, a group of philanthropic organisations run by the head of the business conglomerate Tata Sons[16] The JRD Tata Ecotechnology Centre The Energy and Resources Institute (earlier known as Tata Energy and Research Institute) which is an NPO completely committed to the cause of research in the field of renewable energy.

The Tata Group has donated a 220 crore ($50 million) to the prestigious Harvard Business School (HBS) to build an academic and a residential building on the institutes campus in Boston, Massachusetts. The new building will be called the Tata Hall and used for the institutes executive education programmes.[17] The amount is the largest from an international donor in Harvards 102-year-old existence. A comprehensive list is available on the company website. The recent The Brand Trust Report,[18] 2011 has ranked TATA as the second most trusted brands of India.

MUMBAI: Tata Steel, India's largest steel company and the world's sixth-largest by capacity, plans to form an international company for consolidating its raw material assets that are spread across the world and which could eventually be used to raise funds for future acquisitions.

Why tata aquired chorus

although corus was in loss but it makes a variety of steel products and has good market acceptability in europe . it has a well developed R&D and distribution network. it has few problems like 01 costly raw material purchase 02 debt with TATASTEEL the cheapest manufacture of steel in the world the new company will become highly profitable

CORUS is not a small company in fact CORUS has four times the capacity what TATA has of producing steel. if we see the past record of corus it was on the verge of bankruptcy.it was easy for tata to accquire a company which was not that strong at the moment so it was a perfect take over.

TATA CHORUS DEAL

On January 31, 2007, Tata Steel Limited (Tata Steel), one of the leading steel producers in India, acquired the Anglo Dutch steel producer Corus Group Plc (Corus) for US$ 12.11 billion ( 8.5 billion). The process of acquisition concluded only after nine rounds of bidding against the other bidder for Corus - the Brazil based Companhia Siderurgica Nacional (CSN).

This acquisition was the biggest overseas acquisition by an Indian company. Tata Steel emerged as the fifth largest steel producer in the world after the acquisition. The acquisition gave Tata Steel access to Corus' strong distribution network in Europe.

Corus' expertise in making the grades of steel used in automobiles and in aerospace could be used to boost Tata Steel's supplies to the Indian automobile market. Corus in turn was expected to benefit from Tata Steel's expertise in low cost manufacturing of steel. However, some financial experts claimed that the price paid by Tata Steel (608 pence per share of Corus) for the acquisition was too high. Corus had been facing tough times and had reported a substantial decline in profit after tax in the year 2006. Analysts asked whether the deal would really bring any substantial benefits to Tata Steel. Moreover, since the acquisition was done through an all cash deal, analysts said that the acquisition would be a financial burden for Tata Steel.

Issues:

Gain an in-depth knowledge about various corporate valuation techniques. Critically examine the rationale behind the acquisition of Corus by Tata Steel. Understand the advantages and disadvantages of cross-border acquisitions. Understand the need for growth through acquisitions in foreign countries. Study the regulations governing mergers & acquisitions in the case of a cross-border acquisition. Get insights into the consolidation trends in the Indian and global steel industries. Tata Steel outbid the Brazilian steelmaker Companhia Siderurgica Nacional's (CSN) final offer of 603 pence per share by offering 608 pence per share to acquire Corus. Tata Steel had first offered to pay 455 pence

per share of Corus, to close the deal at US$ 7.6 billion on October 17, 2006. CSN then offered 475 pence per share of Corus on November 17, 2006. Finally, an auction5 was initiated on January 31, 2007, and after nine rounds of bidding, Steel could finally clinch the deal with its final bid 608 pence per share, almost 34% higher than the first bid of 455 pence per share of Corus.

1] "Did Tata Steel Overheat in its Zeal to Win Corus?" Knowledge@Wharton, February 08, 2007. 2] "Tata Win Booster for Corporate India's Confidence," The Economic Times, February 01, 2007. 3] As on January 31, 2007, 1 US Dollar = 44.18 INR and 1 Pound = 86.73 INR. 4] "Tata Steel Completes Acquisition of European Steelmaker Corus," International Herald Tribune, April 03, 2007. 5] Since Tata Steel and CSN could not declare their final offer by January 31, 2007, an auction had to be initiated by The Takeover Panel which oversees mergers and acquisitions in the UK.

The Tata-Corus deal is different because it links low-cost Indian production and raw materials and growth markets to high-margin markets and high technology in the West.

The cost advantage of operating from India can be leveraged in Western markets, and differentiation based on better technology from Corus can work in the Asian markets."8

Background Note

Tata Steel Tata Steel is a part of the Tata Group, one of the largest diversified business conglomerates in India. Tata Group companies generated revenues of Rs. 967,229 million in the financial year 2005-06. The group's market capitalization was US$ 63 billion as of July 2007 (only 28 of the 96

Tata Group companies were publicly listed). In 1907, Jamshedji Tata established Tata Steel at Sakchi in West Bengal. The site had a good supply of iron ore and water...
There was a heavy speculation surrounding Tata Steel's proposed takeover of Corus ever since Ratan Tata had met Leng in Dubai, in July 2006. On October 17, 2006, Tata Steel made an offer of 455 pence a share in cash valuing the acquisition deal at US$ 7.6 billion. Corus responded positively to the offer on October 20, 2006.

CSN which was itself keen on acquiring Corus. On November 17, 2006, CSN formally entered the foray for acquiring Corus with a bid of 475 pence per share. In the light of CSN's offer, Corus announced that it would defer its extraordinary meeting of shareholders to December 20, 2006 from December 04, 2006, in order to allow counter offers from Tata Steel and CSN...

Financing the Acquisition

By the first week of April 2007, the final draft of the financing structure of the acquisition was worked out and was presented to the Corus' Pension Trusties and the Works Council by the senior management of Tata Steel. The enterprise value of Corus including debt and other costs was estimated at US$ 13.7 billion (Refer Table I for fund raising mix for the Corus' acquisition)...
The Integration Efforts

Industry experts felt that Tata Steel should adopt a 'light handed integration'approach, which meant that Ratan Tata should bring in some changes in Corus but not attempt a complete overhaul of Corus'systems (Refer Exhibit XI and Exhibit XII for projected financials of Tata-Corus). N Venkiteswaran, Professor, Indian Institute of Management, Ahmedabad said, If the target company is managed well, there is no need for a heavyhanded integration. It makes sense for the Tatas to allow the existing management to continue as before...
The Synergies

Most experts were of the opinion that the acquisition did make strategic sense for Tata Steel. After successfully acquiring Corus, Tata Steel became the fifth largest producer of steel in the world, up from fifty-sixth position. There were many likely synergies between Tata Steel, the lowest-cost producer of steel in the world, and Corus, a large player with a

significant presence in value-added steel segment and a strong distribution network in Europe. Among the benefits to Tata Steel was the fact that it would be able to supply semifinished steel to Corus for finishing at its plants, which were located closer to the highvalue markets...
The Pitfalls

Though the potential benefits of the Corus deal were widely appreciated, some analysts had doubts about the outcome and effects on Tata Steel's performance. They pointed out that Corus' EBITDA (earnings before interest, tax, depreciation and amortization) at 8 percent was much lower than that of Tata Steel which was at 30 percent in the financial year 2006-07...
The Road Ahead

Before the acquisition, the major market for Tata Steel was India. The Indian market accounted for sixty nine percent of the company's total sales. Almost half of Corus' production of steel was sold in Europe (excluding UK). The UK consumed twenty nine percent of its production. After the acquisition, the European market (including UK) would consume 59 percent of the merged entity's total production (Refer Table III for the spread of Tata-Corus markets before and after the acquisition)...
Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit Exhibit I: Top Ten Players in the Global Steel Industry II: Tata Steel - Consolidated Income Statement (2003-07) III: Tata Steel - Consolidated Balance Sheet (2003-07) IV: Corus - Consolidated Income Statement (2004-06) V: Corus - Consolidated Balance Sheet VI: Takeover Regulations in the UK VII: Auction Rules that Governed the Acquisition of Corus VIII: Corus - Stock Price Chart (September 2002 - March 2007) IX: Tata Steel - Stock Price Chart (September 2002 - June 2007) X: Fitch Ratings XI: Tata-Corus - Profile XII: Tata Corus - Consolidated Financial Performance XIII: A Note on EV, EBITDA and EV/EBITDA

From Wikipedia, the free encyclopedia Jump to: navigation, search This article needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (November 2008)

On 20 October 2006 the board of directors of Anglo-Dutch steelmaker Corus accepted a $7.6 billion takeover bid from Tata Steel, the Indian steel company. The following months saw a lot of negotiations from both sides of the deal. Tata Steel's bid to acquire Corus Group was challenged by CSN, the Brazilian steel maker. Finally, on January 30, 2007, Tata Steel purchased a 100% stake in the Corus Group at 608 pence per share in an all cash deal, cumulatively valued at USD 12.04 Billion. The deal is the largest Indian takeover of a foreign company and made Tata Steel the world's fifth-largest steel group.
Contents

1 The involved companies 2 Synergies between the two companies 3 Counter bid by CSN 4 Proposed funding of the deal 5 The deal 6 Timelines 6.1 Final deal structure 6.2 New Board formulation 6.3 Strategic and Integration Committee

7 See also 8 References 9 External links

[edit] The involved companies

'Tata Steel', formerly known as TISCO (Tata Iron and Steel Company Limited), was the world's 56th largest and India's 2nd largest steel company with an annual crude steel capacity of 3.8 million tonnes. It is based in Jamshedpur, Jharkhand, India.[1][2] It is part of the Tata Group of companies. Post Corus merger, Tata Steel is India's second-largest and second-most profitable company in private sector with consolidated revenues of Rs 1,32,110 crore and net profit of over Rs 12,350 crore during the year ended March 31, 2008.[3][4]. The company was also recognized as the world's best steel producer by World Steel Dynamics in 2005. The company is listed on BSE and NSE; and employs about 82,700 people (as of 2007).

Corus was formed from the merger of Koninklijke Hoogovens N.V. with British Steel Plc on 6 October 1999. It has major integrated steel plants at Port Talbot, South Wales; Scunthorpe, North Lincolnshire; Teesside, Cleveland (all in the United Kingdom) and IJmuiden in the Netherlands. It also has rolling mills situated at Shotton, North Wales (which manufactures Colorcoat products), Trostre in Llanelli, Llanwern in Newport, South Wales, Rotherham and Stocksbridge, South Yorkshire, England, Motherwell, North Lanarkshire, Scotland, Hayange, France, and Bergen, Norway. In addition it has tube mills located at Corby, Stockton and Hartlepool in England and Oosterhout, Arnhem, Zwijndrecht and Maastricht in the Netherlands. Group turnover for the year to 31 December 2005 was 10.142 billion. Profits were 580 million before tax and 451 million after tax.
[edit] Synergies between the two companies

There were a lot of apparent synergies between Tata Steel which was a low cost steel producer in fast developing region of the world and Corus which was a high value product manufacturer in the region of the world demanding value products. Some of the prominent synergies that could arise from the deal were as follows :
Tata was one of the lowest cost steel producers in the world and had self sufficiency in raw material. Corus was fighting to keep its productions costs under control and was on the look out for sources of iron ore. Tata had a strong retail and distribution network in India and SE Asia. This would give the European manufacturer a in-road into the emerging Asian markets. Tata was a major supplier to the Indian auto industry and the demand for value added steel products was growing in this market. Hence there would be a powerful combination of high quality developed and low cost high growth markets There would be technology transfer and cross-fertilization of R&D capabilities between the two companies that specialized in different areas of the value chain There was a strong culture fit between the two organizations both of which highly emphasized on continuous improvement and ethics. Tata steel's Continuous Improvement Program Aspirewith the core values :Trusteeship,integrity,respect for individual, credibility and excellence. Corus's Continuous Improvement Program The Corus Way with the core values : code of ethics, integrity, creating value in steel, customer focus, selective growth and respect for our people.

Proposed funding of the deal

Tata surprised the credit default swap segment of the derivative markets by deciding to raise $6.17bn of debt for the deal through a new subsidiary of Corus called 'Tata Steel UK', rather than by raising the debt itself. Tata's security credit rating is investment grade, whereas the new subsidiary may not be. The higher risk associated with raising debt through a subsidiary with a lower credit rating prompted Fitch Ratings to downgrade its rating of the credit swap risks in the takeover to 'negative'. Fitch also stated that Corus' responsibility for the debt may lead to Corus' own unsecured debt rating being downgraded. This does not affect the rating of bonds issued by Corus which are secured debt.
[edit] The deal

This section requires expansion.

On January 31, 2007, following the lack of agreement on an offer, an auction process was triggered. Following the conclusion of the auction process (at an unprecedented length of nine rounds) conducted by the Panel in accordance with Rule 32.5 of the Code (the "Auction"), Tata Steel announced the proposed acquisition of Corus Group at 608p per share, that being 5p more than CSN's top offer of 603p. The final valuation of Corus was thus put at $12.04 Billion.
[edit] Timelines

On October 20, 2006, Tata Steel announced that it had agreed to pick up a 100% stake in the Anglo-Dutch steel maker Corus at 455 pence per share in an all cash deal, cumulatively valued at GBP 4.3 billion (USD 8.04 billion). On November 19, 2006, the Brazilian steel company CSN launched a counter offer for Corus at 475 pence per share, valuing it at $8.4 billion. On December 11, 2006, Tata preemptively upped the offer to 500 pence, which was within hours trumped by CSN's offer of 515 pence per share, valuing the deal at $ 9.6 Billion. The Corus board promptly recommended both the revised offers to its shareholders. On December 11, 2006, CSN announced a formal offer for the Company at an offer price of 515 pence per Corus Share , valuing the deal at $ 9.6 Billion.. The CSN Acquisition would also be implemented by way of a scheme of arrangement and is subject to a pre-condition that either Corus Shareholders reject the Tata Scheme or the Tata Scheme is otherwise withdrawn by Corus or lapses. The Corus board promptly recommended both the revised offers to its shareholders. Also on December 19, 2006, UK Watchdog the Panel on Takeovers and Mergers announced that the last date for each of Tata and CSN to announce revised offers for the Company, should they wish to do so, is 30 January 2007. They also warned that it would begin an auction procedure if the two remained in competition. On January 31, 2007 Tata Steel won their bid for Corus after offering 608 pence per share, valuing Corus at $11.3bn

[edit] Final deal structure $3.53.8bn infusion from Tata Steel ($2bn as its equity contribution, $1.5 1.8bn through a bridge loan) $5.6bn through a LBO ($3.05bn through senior term loan, $2.6bn through high yield loan)

[edit] New Board formulation

A new board was formulated with representation from both the companies to provide a common platform for strategy and integration.
Mr. R.N. Tata will be the Chairman of Tata Steel and Corus

Mr. Jim Leng will be the deputy chairman of Tata Steel and Corus Mr. B Muthuraman, Mr. Ishaat Hussain and Mr. Arun Gandhi to join the Corus board

[edit] Strategic and Integration Committee

A 'Strategic and Integration Committee' was formulated to develop and execute the integration and further growth plans. Appropriate cross functional teams were formed under this committee to look into specific issues.
Tata Steel owns raw material assets such as coal and limestone mines through joint ventures or completely, with the assets spread across countries such as Australia, Oman and Mozambique. The consolidated full year net profit for Tata Steel stood at Rs 12,321.76 crore, compared to Rs 4,165.61 crore, due to contribution from Corus businesses. The consolidated revenue for the full year totalled Rs 1,32,110.09 crore, compared to Rs 25,650.45 crore last year. Anglo-Dutch steelmaker Corus was acquired in January last year for $13 billion. According to the standalone results for the year, Tata Steel's net profit rose 11% to Rs 4,687.03 crore, while revenues also grew 11% to Rs 17,985 crore. Shares of Tata Steel rose 1.9% to Rs 756.55 on the BSE on Thursday. "Ownership of raw materials and a continuous improvement in production have been the key to Tata Steel's profitability. In fact we've believed in owning raw materials for the past 100 years," said managing director B Muthuraman while elaborating on the century-old company's performance. Tata Steel and state-owned SAIL have largely been able to withstand raw material price fluctuations due to captive iron ore mines. Tata Steel is also one of the least cost markers of steel in the world. Other private steel companies, hit by steep iron ore and coal prices, have passed on the hikes to the customers, prompting the government to clamp down on price increases to control inflation. "Although we have promised the government to hold prices till July end, high coke prices may force steel companies to reconsider their stand," said an industry executive. Tata Steel imports one-third of the total coal it needs for local production. Coal prices have risen by $200 per tonne over the past three months. Tata Steel faces no such restrictions overseas as Corus, which buys both coal and iron ore, has passed on all price increases to customers. Tata Steel and Corus together sell more than twothirds of their production in Europe. Tata Steel plans to increase its domestic production to 10 million metric tonnes by 2011, from the current 7 million tonnes. It is planning to spend about Rs 3,000 crore to build a new 1.5 million tonne cold rolling mill in Jamshedpur.

Corus buy hauls Tata Steel next to Reliance

Krishna Kant, ET Bureau Jun 27, 2008, 08.20am IST

The integration of European steelmaker Corus with Tata Steel has resulted in the latter emerging as India's second-largest company in the private sector with consolidated revenues of over Rs 1,32,110 crore during the year ended March 31, 2008. The company is now close to Reliance Industries (RIL), which continues to lead the India Inc revenue league table with FY08 consolidated revenues of Rs 1,37,147 crore.

Thanks to buoyancy in global steel prices, Tata Steel has also emerged as India's second-most profitable company with a consolidated net profit of over Rs 12,350 crore during FY08. Top producers by volume

This is a list of the largest steel-producing companies in the world mostly based on list by the World Steel Association. This list is ranking steelmakers by volume of steel production in millions of tonnes and including all steelmakers with prodiction over 10 millions. The WSA is compiling list from its members every year. Note that due mergers year to year figures for some producers are not comparable. Also note that not all steel is the same, some steel is far more valuable than other steel, so volume is not the same as turnover.
Ranki ng 2010[ 2009[ 2008[ 2007[ 1] 2] 3] 3] (2010 ) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Company Headquarte rs Luxembourg China China China South Korea Japan Japan China China India United States China Brazil United States

98.2 77.5 103.3 116.4 ArcelorMittal 52.9[4 40.2[5

] ]

33.3 31.1 Hebei Iron and Steel

37.0 31.3 35.4 28.6 Baosteel Group 36.5[4

]

30.3 27.7 20.2 Wuhan Iron and Steel

35.4 31.1 34.7 31.1 POSCO 35.0 26.5 37.5 35.7 Nippon Steel 31.1 25.8 33.0 34.0 JFE 23.2 20.5 23.3 22.9 Jiangsu Shagang 23.2[6 26.4[5 21.8[7
] ] ]

Shandong Iron and Steel Group

23.2 20.5 24.4 26.5 Tata Steel 22.3 15.2 23.2 21.5 United States Steel Corporation

22.1 20.1 16.0 16.2 Ansteel 18.7 14.2 20.4 18.6 Gerdau 18.3 14.0 20.4 20.0 Nucor Corporation

15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 -

18.2 16.7 19.2 17.3 Severstal 16.4 11.0 15.9 17.0 ThyssenKrupp 16.3 15.3 17.7 16.2 Evraz 15.4[8 14.8[5 15.0[5
] ] ]

Russia Germany Russia China China Italy India Japan South Korea Taiwan Russia

14.2

Maanshan Iron and Steel Company

14.9 15.1 12.2 12.9 Shougang 14.0 11.3 16.0 17.9 Gruppo Riva 13.6 13.5 13.7 13.9 Steel Authority of India Limited

13.3 11.0 14.1 13.8 Sumitomo Metal Industries 12.9 8.4 12.7 8.9 9.9 10.0 Hyundai INI Steel

11.0 10.9 China Steel Novolipetsk Steel

11.9 10.9 11.3 9.7 11.4 9.6 12.0 13.3

Magnitogorsk Iron and Steel Russia Works Iran China Italy / Argentina China

11.4 10.6 10.0 10.1 IMIDRO 10.8[9 11.8[5 11.3[5

] ] ]

11.1 Valin Steel Group

8.8 -

6.9 -

10.4 13.1 Techint 11.7 Laiwu Steel

1,413 1,219 1,329 1,351 World total

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Printable version

Corus accepts 4.3bn Tata offer

Anglo-Dutch steel firm Corus has confirmed it is accepting a 4.3bn ($8.1bn) takeover offer from Indian rival Tata Steel. The acceptance of the deal, revealed by the BBC on Thursday, is the largest Indian takeover of a foreign company. If approved by Corus shareholders, it would Corus employs 47,300 people worldwide, including 24,000 in the UK at plants at Port Talbot, Scunthorpe and Rotherham. The firm was formed out of the 1999 merger of British Steel and Dutch group Hoogovens. The 455p-a-share offer is below the current price of Corus shares, which were trading at 474p on Friday.

Corus employs 24,000 people in the UK

This represents the right partner at the right time at the right price and on the right terms

Jim Leng Corus chairman

Q&A: Corus and Tata Who is Ratan Tata?

Tata has pledged to pay 126m into the Corus pension fund as part of the deal, and will increase the annual contributions to the British Steel fund.

It added it did not plan to relocate any Corus plants, but Tata said job cuts could not be ruled out in the long-term.

Changing of the guard Corus chairman Jim Leng said the deal was the culmination of talks with firms in Brazil, Russia and India.

"This combination with Tata, for Corus shareholders and employees alike, represents the right partner at the right

time at the right price and on the right terms," he said. In 2005, Tata Steel was the world's 56th biggest steel producer. Its takeover of Corus represents its first expansion outside of Asia. Tata chairman Ratan Tata said the takeover would be a "defining moment" for the firm. "It's entirely consistent with our strategy of growth through international expansion," he said. "Corus and Tata Steel are companies with long, proud histories. Together we will be even better equipped to remain at the leading edge of the fast-changing steel industry." BBC business editor Robert Peston said the proposed acquisition was "the changing of the guard on a global scale". Deal risks

GLOBAL STEEL PRODUCTION 2005

1. Mittal Steel - 49.89 million tonnes 2. Arcelor- 46.65 3. Nippon Steel - 32.91 4. Posco - 31.42 5. JFE Steel - 29.57 6. Shanghai Baosteel - 22.73 7. US Steel - 19.26 8. Nucor - 18.45 9. Corus - 18.18 10. Riva - 17.53 56. Tata - 4.4

Source: Metal Bulletin

Corus share price

Some analysts said they expected the move by Tata to spark a takeover war. Severstal, the Russian steel giant controlled by Alexei Mordashov, is among those who must decide whether to launch a hostile bid. Analysts broadly welcomed the deal, but warned that there were risks. The biggest one is said to be that if there is an economic downturn over the coming years, Tata Steel might have difficulty paying off the 1bn of debt it is taking on to buy Corus. In those circumstances there might be dangers for Corus' pension fund, which has 166,000 members in the UK. Increasing consolidation Unions reacted with caution to the news of the deal. "The assurances on jobs look very brittle at the moment," said Transport and General Workers Union national secretary John Rowse.

"This is still a big operation in the UK and we would want to know what the deal means for our members' jobs in the manufacturing side of Corus as well as all the former workers whose pensions are also very much on our mind." Denis MacShane, the MP for Rotherham and chairman of the Steel Group of MPs, told the BBC he was positive about the deal. The takeover comes amid growing consolidation in the global steel industry. With prices and demand soaring, Mittal Steel - the world's largest steel firm - bought European rival Arcelor for $34bn earlier this year. Tata Steel is part of the wider Tata group, which has business interests ranging from carmaking to Tetley's tea.

www.authorstream.com/Presentation/priyajain786-219350-leveraged-buyouts-case-study...

www.slideshare.net/gorval227/tata-corus-merger

www.scribd.com/doc/22883161/Final-Tata-Merger-of-Tata-Steel

www.scribd.com/doc/36358130/Tata-Corus

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Tata Sons hikes stake in Tata Investment Corp to 68.26 pc

today said promoter group firm Tata Sons has increased its stake in the company to 68.26 per cent.Tata Sons has hiked the stake to 68.26 per cent upon conversion of detachable warrants. Prior to this, the entity had 65.21 per cent shareholding in Tata Investment Corp.The transaction was done today, Tata Investment Corp said in a regulatory filing.A non-banking financial company, Tata Investment Corp... Source : The Economic Times | 67 Day(s) Ago

Category : Business | City : New Delhi

Measures to rein in inflation to impede infra development: Ratan Tata

Fiscal measures to rein in inflation could impede the country's infrastructure development due to squeezed investment for want of sufficient credit access, says top industrialist Ratan Tata."Fiscal policies to control inflation will affect access to credit and could slow down investment levels as also consumer demand," Tata said in group firm Tata Steel's annual report."The most significant impact... Source : The Economic Times | 21 Day(s) Ago
Category : Business | City : New Delhi

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Tata to build vehicle assembly facility in South Africa

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Tata to build vehicle assembly facility in South Africa

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Category : National

Tata Steel says Riversdale Mining stake strategic for it

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Source : Business Standard | 243 Day(s) Ago

Category : Business

Govt approves 19 FDI proposlas worth Rs 4,340.77 cr

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Category : Sports | City : Mumbai

Expansion of Tata's Jamshedpur steel plant to be completed by December

The capacity of the Tata Group's steel plant in the city would increase from existing 68 lakh tonnes to one crore tonnes per year by the year-end, entailing a capital investment of about Rs 15,000 crore.Tata group chief Ratan Tata, who arrived here to take part in the 172nd birth anniversary of Tata Group founder Jamshedji Tata tomorrow, visited the plant and took note of various works being carried...

Tata Investment Corporation received an overwhelming response on the bourses today, with the stock climbing nearly 13% in morning trade on the BSE after promoter group firm Tata Sons increased its stake in the company to 68.26%.

Shares of Tata Investment spurted by 12.78% to touch a high of Rs 553.50 on the BSE, while on the NSE, the stock zoomed up by 12.69% to touch an early high of Rs 554.
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Tata Sons has hiked its stake to 68.26% upon conversion of detachable warrants. Prior to this, the entity had 65.21% shareholding in Tata Investment Corp. Tata Investment Corp is mainly into investing in long-term investments such as equity shares and equityrelated securities. Meanwhile, the BSE 30-share Sensex was trading at 18,531.46 at 1052 hours.

Jul 26, 2011 Tata Investment Corporation net profit declines 27.90% in the June 2011 quarter

Capital Market / 16:10 , Jul 26, 2011

Sales decline 25.50% to Rs 34.12 crore

16:10

Net profit of Tata Investment Corporation declined 27.90% to Rs 25.95 crore in the quarter ended June 2011 as against Rs 35.99 crore during the previous quarter ended June 2010. Sales declined 25.50% to Rs 34.12 crore in the quarter ended June 2011 as against Rs 45.80 crore during the previous quarter ended June 2010. Particulars Quarter Ended Jun. Jun. 2011 2010 Sales 34.12 45.8 0 94.3 4 43.3 8 43.3 5 35.9 9 % Var.

-26

OPM %

90.77

-4

PBDT

31.05

-28

PBT

30.96

-29

NP

25.95

-28

Jun 01, 2011

Tata Investment Corporation spurts as Tata Sons hikes stake

Capital Market / 10:19 , Jun 01, 2011

Tata Investment Corporation spurted 9.63% at Rs 538 at 10:16 IST on BSE after the company's promoter Tata Sons raised its stake in the firm to 68.26% from 65.21% earlier through conversion of detachable warrants.

10:19
Tata Investment Corporation unveiled the shareholding disclosure after market hours on Tuesday, 31 May 2011. Meanwhile, the BSE Sensex was up 110.82 points, or 0.60%, to 18,614.10. On BSE, 1.35 lakh shares were traded in the counter as against an average daily volume of 2.28 lakh shares in the past one quarter. The stock hit a high of Rs 553.50 and a low of Rs 500 so far during the day. The stock had hit a 52-week high of Rs 669.90 on 1 October 2010 and a 52-week low of Rs 449.60 on 24 May 2011. The stock had underperformed the market over the past one month until 31 May 2011, falling 7.20% compared with the Sensex's 3.31% fall. The scrip had underperformed the market in past one quarter, falling 3.43% as against 3.81% gain in the Sensex. The mid-cap investment company has an equity capital of Rs 55.09 crore. Face value per share is Rs 10. Tata Investment Corporation's net profit fell 13.4% to Rs 22.59 crore on 3.8% decline in operating income to Rs 33.31 crore in Q4 March 2011 over Q4 March 2010.

May 10, 2011 14:57 Tata Investment Corporation net profit rises 2.41% in the Audited Year ended March 2011

Sales rises 6.24% to Rs 244.20 crore

Tata Investment Corporation net profit rose 2.41% to Rs 198.59 crore in the Audited Year ended March 2011 as against Rs 193.92 crore during the previous year ended March 2010. Sales rose 6.24% to Rs 244.20 crore in the Audited Year ended March

2011 as against Rs 229.85 crore during the previous year ended March 2010.

Feb 07, 2011 Tata Investment Corporation slumps ex-dividend

Tata Investment Corporation lost 4.44% to Rs 525.05 at 13:01 IST on BSE, after the stock turned ex-dividend today, 7 February 2011, for an interim dividend of Rs 16 per share for the year ending March 2011.

13:03
Meanwhile, the BSE Sensex was up 57.62 points, or 0.32%, to 18,065.77 On BSE, 2,143 shares were traded in the counter compared with the average daily volume of 5,877 shares in the past one quarter. The stock hit a high of Rs 533.35 and a low of Rs 523.75 so far during the day. The mid-cap stock had outperformed the market over the past one month till 4 February 2011, declining 3.33% compared with the Sensex's 12.15% fall. The stock had also outperformed the market in past one quarter, falling 7.02% as against Sensex's decline of 13.81%. The company has an equity capital of Rs 48.24 crore. Face value per share is Rs 10. Before turning ex-dividend, the stock offered a dividend yield of 2.91% based on closing price of Rs 549.45 on Friday, 4 February 2011. Tata Investment Corporation's net profit rose 5.4% to Rs 45.61 crore on 11% rise in total income to Rs 59.92 crore in Q3 December 2010 over Q3 December 2009.

Jan 27, 2011 14:22 Tata Investment Corporation net profit rises 5.38% in the December 2010 quarter

Capital Market / 14:22 , Jan 27, 2011

Sales rise 9.78% to Rs 59.04 crore

Net profit of Tata Investment Corporation rose 5.38% to Rs 45.61 crore in the quarter ended December 2010 as against Rs 43.28 crore during the previous quarter ended December 2009. Sales rose 9.78% to Rs 59.04 crore in the quarter ended December 2010 as against Rs 53.78 crore during the previous quarter ended December 2009.
Particulars Dec. 2010 Quarter Ended Dec. 2009 53.7 8 96.2 4 51.9 5 51.9 3 43.2 8

% Var.

Sales

59.04

10

OPM %

95.63

-1

PBDT

57.33

10

PBT

56.82

NP

45.61

Tata Investment Corporation declares interim dividend

Of 160%

The board of Tata Investment Corporation in its meeting on 27 January 2011 has declared interim dividend at the rate of Rs 16 per share (160%) for the year ending 31 March 2011.

Record date for Tata Investment Corporation interim dividend announced (14:19)
Tata Investment Corporation has fixed 08 February 2011 as the record date to

determine the names of members who would be entitled to the payment of interim dividend for the year 2010-2011.

Jan 19, 2011 Tata Investment Corporation to announce financial results 10:58
The board meeting of Tata Investment Corporation will be held on 27 January 2011 to consider the unaudited financial results for the quarter / nine months period ended 31 December 2010 and to consider payment of interim dividend for the financial year ending 31 March 2011.

Oct 26, 2010 18:53 Tata Investment Corporation net profit rises 5.53% in the September 2010 quarter

Capital Market / 18:53 , Oct 26, 2010

Sales rise 6.34% to Rs 108.16 crore

Net profit of Tata Investment Corporation rose 5.53% to Rs 94.40 crore in the quarter ended September 2010 as against Rs 89.45 crore during the previous quarter ended September 2009. Sales rose 6.34% to Rs 108.16 crore in the quarter ended September 2010 as against Rs 101.71 crore during the previous quarter ended September 2009.
Particulars Sep. 2010 Quarter Ended Sep. 2009 101. 71 98.0 7

% Var.

Sales

108.16

OPM %

97.80

PBDT

106.53

101. 04 101. 03 89.4 5

PBT

106.47

NP

94.40

Jul 29, 2010 18:16 Tata Investment Corporation net profit rises 2.56% in the June 2010 quarter

Capital Market / 18:53 , Oct 26, 2010

Sales rise 6.34% to Rs 108.16 crore

Net profit of Tata Investment Corporation rose 5.53% to Rs 94.40 crore in the quarter ended September 2010 as against Rs 89.45 crore during the previous quarter ended September 2009. Sales rose 6.34% to Rs 108.16 crore in the quarter ended September 2010 as against Rs 101.71 crore during the previous quarter ended September 2009.
Particulars Sep. 2010 Quarter Ended Sep. 2009 101. 71 98.0 7 101. 04 101. 03

% Var.

Sales

108.16

OPM %

97.80

PBDT

106.53

PBT

106.47

NP

94.40

89.4 5

Jun 26, 2010 Tata Investment Corporation

Capital Market / 18:05 , Jun 26, 2010

Availability of adequate liquidity of funds at reasonable rates of interest will be important factor for the corporate sector

18:05

Tata Investment Corporation (TIC) held its Annual General Meeting (AGM) in Mumbai. Mr.N.N. Tata, Chairman of the company addressed the meet. Highlights of the meet The company reported 8% increase in revenues to Rs 229.85 crore in FY'10 compared to Rs 212.33 crore in FY'09 while bottomline of the company was up 4% to Rs 193.92 crore. During FY'10, Tata Investment Corporation took advantage of the relatively high stock market prices by booking larger profits from sale of investments though there was a slight decline in dividend income. The Net Asset Value (NAV) of the Company's equity share, as computed by the management, was Rs.715/- per share as on 31st March, 2010, after taking into account the higher equity capital and the increase in tax rates. On a like-to-like basis as the previous year, the NAV would have been Rs.1,040 on 31st March, 2010 compared to Rs.515 on 31st March, 2009 FDI and FII inflows during FY'10 reached a peak level of USD 35 billion of FDI funds and USD 25 billion of FII funds. FII money has been a major contributor to the upsurge in the stock market during FY'10 with the BSE Sensex increasing by 80% (from 9700 in March 2009 to 17500 in March 2010) and the BSE-200 Index increasing by 93% (from 1140 in March 2009 to 2200 in March 2010). The corporate sector continues to benefit from the higher growth rate however, the ability to absorb the higher input costs across the board would depend on the ability of different industries to offset such higher costs through increased prices and cost-saving measures The investment portfolio consists of 197 odd scrips of listed and unlisted companies as on 31 st March 2010 compared to 178 scrips as on 31 st March 2009. Availability of adequate liquidity of funds at reasonable rates of interest will be important factor for the corporate sector considering the Government's own large requirement of funds and also the requirements of the large infrastructure projects which the country badly needs. It is difficult to predict the trend of the stock market during FY'11 partly due to the unpredictability of capital inflows or outflows

Jun 23, 2010 17:02 Tata Investment Corporation appoints chairman & vice chairman

May 17, 2010 18:49 Tata Investment Corporation net profit rises 4.10% in the year ended March 2010

Mar 31, 2010

10:45

Tata Investment Corporation appoints additional director

Mar 18, 2010 14:17 Tata Investment Corporation appoints additional director