Tata Steel Limited and Thyssenkrupp AG of Germany had signed definitive agreements in June 2018 to combine their business in Europe to create a 50:50 joint venture company which could have become second largest steel company in the European continent.
Tata Steel Ltd has reported better-than-expected earnings for Q4 and full year FY19 on the back of higher deliveries in India and improved realization across geographies. The company produced record 16.79 Mn tonnes of steel in FY19 which is 35% higher than 12.48 Mn tonnes produced in FY18.
After a gap of nine months of signing MoU, Tata Steel (TATA) and ThyssenKrupp AG finally entered into a definitive agreement to form a 50:50 Joint Venture (JV) for merger of their European steel operations.
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