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After Corus, Tata eyes Europe
Published on Wed, Jan 31, 2007 at 11:01, Updated on Tue, Jun 19, 2007 at 07:34 in 
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New Delhi: On Wednesday, Chairman of the Tata Group, Ratan Tata, got listed among the top 10 steelmakers of the world by ‘steeling’ the show at the Corus takeover.
In a press conference convened in Mumbai, a calm and composed Tata said the Corus deal was a moment of great fulfillment for India. “Now Tata Steel has global footprint and we can fulfill our global aspirations," he said.
Despite having stayed awake the night, closely monitoring the Corus auction thousands of miles away in London, the strain did not show on Tata’s face.
He charted out the future course of action for the Tata-Corus enterprise – which will also be world’s fifth largest steelmaker.
“Tata will have a major role in creating the presence of Indian companies in Europe. Ours will grow and integrate with Tata steel. Some of Corus’s members will stay back with us and I look forward to a worthwhile business,” he said.
He did not forget to thank his management and staff who helped the deal get through with hectic back-room lobbying. “The deal has come through with the support of the management and unions. I am glad to say that coming to the options, we took the deal away from the Brazilians. I want to recognise the efforts of the board members who made the transaction possible,” he said.
After Ratan Tata, Managing Director of Tata Steel, B Muthuraman spoke on the strategies that the company has adopted over the last 10 years.
“Over the last few years Tata has had a strategy of acquisitions in various countries even where raw material might not be available. We had had a set of strategic objectives that have evolved over the past 10 years,” Muthuraman said.
Corus, which brings in a capacity of 19 millions tones per annum, will also help the Indian steel giant in improving its technology.
“Europe is requires high-quality service and Corus will help us in fulfilling those needs. Corus will also help Tata Steel in improving our technology,” Muthuraman explained.
The Managing Director said that Corus management and work practices are similar to Tata Steel and they are “planning to form an executive committee for the two companies”.
Synergies between the two companies will be on the following terms:
Improvement of operations
Procurement of material
Shared services
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It's really great and feel proud that TATA belong's to India as am I.
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Hope they can manage such a large company now... CORUS was never a great one to buy ...... it will
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Congrats! Myself proud to be a part of TATA Family..!
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Great News..This shows India is not only leading the way in IT but also in Steel, Pharma etc. My heartly
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TATA has been the PILLAR of Indian economy since the begining. I feel elated of this achievement of TATA, of
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