Germany's thyssenkrupp and India's Tata Steel to produce steel in Europe together

Two steel manufacturers, Germany's thyssenkrupp and India's Tata Steel, signed an agreement on the formation of a joint company in Europe on Saturday, June 30, 2018.

If the regulators approve this merger, it will result in the second biggest steel producer in Europe, behind ArcelorMittal, headquartered in Luxembourg.

The two companies will have a 50% stake each in the new company, named Thyssenkrupp Tata Steel, which will be headquartered in the Netherlands.

Thyssenkrupp Tata Steel will employ 48,000 workers in Germany, Great Britain and the Netherlands.

Workers' representatives have hinted at supporting the agreement, which they expect to end a long period of uncertainty regarding their jobs and salaries.

ThyssenKrupp AG Nemačka

Tata Steel Limited

ArcelorMittal Luxembourg

Tata Steel

ArcelorMittal

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merger of thyssenkrupp and Tata Steel

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