Tata Steel has announced that it has completed its GBP 6.2 billion acquisition of Corus Group plc (Corus) at a price of 608 pence per ordinary share in cash. The enlarged company will have a pro-forma crude steel production of 27 million tonnes in 2007 and will be the world’s fifth largest steel producer with 84,000 employees across four continents. The combination of Tata Steel, a vertically integrated steel producer and one of the world’s most profitable steel companies, with an established and growing presence in India, South East Asia and the Pacific-rim countries, and Corus, Europe’s second largest steel producer, with a high value added product range and strong positions in automotive, construction and packaging, will create the world’s second most global steel producer with a combined presence in 45 countries.
