Overcoming challenges: A steel worker monitors the hot metal at the Thyssenkrupp steel factory in Duisburg, Germany. The firm says its deal with Tata Steel will help them respond to challenges including overcapacity. — AP
FRANKFURT: Germany’s Thyssenkrupp and India’s Tata Steel have signed a final agreement to establish a long-expected steel joint venture, the European steel industry’s biggest shake-up in more than a decade.
The deal comes after months of negotiations since an initial agreement was announced in September. Both companies hope it will help them respond to challenges in the volatile steel industry, including overcapacity.
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