Monday, 2 July 2018

Merger between steel giants Tata and ThyssenKrupp will mean more security for workers



The merger between steel giants Tata and ThyssenKrupp will mean more security for workers, according to the two companies.

 
The deal has taken two years to negotiate because they had not planned for Brexit, the companies told a joint media conference in Brussels.


The merger has been welcomed by the unions.


They believe it will bring greater certainty for Tata's 8,500 UK workers, including 6,250 in Wales.


The bosses of both companies say it will allow them to be more competitive in a world that is making far more steel than it needs.
The industry is also facing 25% tariffs in the USA.


Tata said it was too early to know what impact Brexit would have on the new company but added that the merger would give them options in future.




BBC     News.