World, As Seen from the most beautiful islands: Ireland and Cyprus

SSAB is looking to incorporate parts of Tata Steel Europe


The Swedish steelmaker SSAB would like to incorporate the Dutch branch of Tata Steel Europe. This is reported by the German Handelsblatt based on sources. Sweden would initially be in the market for Thyssenkrupp’s steel activities. Because there are more hijackers on the coast, SSAB as plan B would have looked at IJmuiden.

SSAB would not be interested in the British activities of Tata Steel Europe. Earlier rumours were circulating that SSAB would like to join Tata Steel Europe.

The situation in the European steel industry is not too rosy. Although worldwide demand for materials is constantly rising, sales in Europe are falling. Most countries do not need as much construction steel as China or India, because they have largely modernised their infrastructure. Moreover, more and more car and machine manufacturers are moving their factories outside Europe. This has led to enormous overcapacity in recent years, which has increased competition between companies.

According to Handelsblatt, all smelters are currently in the red. As a recovery is not in sight, several parties have begun talks on consolidation. Tata Steel saw a merger of European steel activities with Thyssenkrupp’s last year because of objections from the European Commission.

Steel makers are also affected by the coronacrisis and the difficult market conditions in the steel industry as a result of the virus outbreak. Tata Steel was not yet available for comment. Against Handelsblatt, the company refused to respond to the rumours.

Written by: Liam O'Reilly

Liam O'Reilly is the founder of the publication, a former analyst at a major reputation agency in the UK, who chose Cyprus as his home.

Add comment

World, As Seen from the most beautiful islands: Ireland and Cyprus

From Trinity st. to Limassol, Cyprus

Ireland and Cyprus have one thing in common. The most beautiful islands are divided. Even proportions are strikingly similar. Both nations strive for unity and a good glass of the news. More about us under the link.

Contact us

Feel free to give us a tip: [email protected]

Recent Posts