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tata steel

June 24, 2016

Bertelsmann commits to UK after Brexit; Maersk appoint new CEO, may break up company; and Brexit scuppers Tata Steel's efforts to maintain operations in the UK

Bertelsmann commits to UK after Brexit

German media group Bertelsmann says it will remain committed to all its investments in the UK and acknowledges “with regret” the British electorate’s decision to leave the European Union, according to a company statement.

The Gütersloh-headquartered firm, controlled by the Mohn family, said Britain’s exit from the EU raises political and economic uncertainties for the firm, but added that its fourth-largest market would remain very important.

June 10, 2016

Dutch family brewer Heineken, owned by the eponymous family, has announced long-rumoured plans to enter Formula 1 with a major multi-year sponsorship deal.

Dutch family brewer Heineken, owned by the eponymous family, has announced long-rumoured plans to enter Formula 1 with a major multi-year sponsorship deal.

The deal to begin next year will include track branding and title sponsorship of the Italian Grand Prix, held in early September.

April 14, 2016

Greybull Capital, the British family office that purchased Tata Steel’s European Long Products division this week, expects to return the loss-making business to profitability within one year, despite intense pressure from Chinese rivals.

Greybull Capital, the British family office that purchased Tata Steel’s European Long Products division this week, expects to return the loss-making business to profitability within one year, despite intense pressure from Chinese rivals.

The statement from Marc Meyohas, co-founder of Greybull Capital and former CEO of Cityspace, comes shortly after the family office announced plans to buy Tata Steel’s Scunthorpe-based plant, saving 4,400 jobs.

April 1, 2016

Tata Steel considers selling British plants; Lotte founder loses seat on board; and Greybull Capital mulling sale of Monarch Airlines

Tata Steel considers selling British plants

Tata Steel, one of the largest steelmakers in the world, is considering the sale of its entire UK business after heavy losses.

According to a company statement from the family-controlled conglomerate, the increase in Chinese imports, coupled with slow demand, has caused the price of steel in Europe to plunge by half since 2011. 

February 26, 2016

Tata Steel announces leadership changes in Europe and Maersk sees rise in Asia trade volume

Tata Steel announces leadership changes in Europe

Karl Koehler, chief executive officer and managing director of Tata Steel Europe, has decided to step down as a director in order to take up a senior position in a large privately-owned industrial company in Germany. 

Koushik Chatterjee, group executive director and member of the boards of Tata Steel and Tata Steel Europe, will take on the role of executive director for Europe in addition to his current responsibilities.

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