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Tata Steel Dutch employees throw spanner in Thyssenkrupp JV works

Steel News - Published on Mon, 21 May 2018

Image Source: Zee Business
Reuters reported that Tata Steel’s Dutch works council has called into question a timeframe for completing a joint venture between the Indian group and Thyssenkrupp by end June, saying it may need more time to assess the deal. Dutch works council president Frits van Wieringen told Reuters that “We expect to need at least two to three months to finish our process.”. The council started its evaluation on May 1.

Mr van Wieringen said that “Thyssenkrupp is the only party commenting on the expected end date.”

The council said it would scrutinize the deal very critically, as it looked for guarantees on investment plans and research activities relating to the automotive and packaging steel activities to remain in the Netherlands.

Mr van Wieringen told Reuters that “A thorough process is more important to us than speed. We will not be pressured into a deal.”

The groups had previously aimed to sign the deal to combine their European steel activities in the beginning of 2018, and had foreseen its closure at the end of the year.

Thyssenkrupp earlier this week said it expected to be able to sign the deal with Tata Steel, agreed in principle in September, in the first half of the year. Tata Steel confirmed that timeline a day later. But this will not happen without the consent of the Dutch workers, van Wieringen said.

Tata’s Dutch works council last month said it still had “major reservations” over the consequences of the joint venture for the Dutch activities and its staff, even though Tata promised limited job losses and an independent position for the Dutch operations within the new company.

Source :

Posted By : Amom Remju on Mon, 21 May 2018
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