This morning in metals news, the deadline was extended for consideration of the proposed European joint venture between Tata Steel and Thyssenkrupp, an explosion at Tata Steel’s Port Talbot steelworks early Friday led to two injuries and Tata Steel expects to locate all of its production in India by 2025.
Tata-Thyssenkrupp Deadline Pushed Back
The European Commission’s deadline for consideration of the proposed European joint venture between Tata Steel and Thyssenkrupp is being pushed back seven days to June 17, Reuters reported.
The proposed joint venture of the companies’ European operations would form the second-largest steelmaking entity in Europe (behind only ArcelorMittal).
Explosion Hits Port Talbot Steelworks
An explosion at Tata Steel’s Port Talbot steelworks Friday morning led to two injuries, the BBC reported.
“All emergency services immediately swung into action,” Tata Steel said in a statement. “All fires have now been extinguished. Two of our employees sustained minor injuries and all employees have been accounted for. All the necessary assistance and medical care is being provided to ensure quick recovery. Investigations are underway to assess the damage and the potential impact.”
Tata to Move All Production to India by 2025
Tata Steel expects to move its 32 million metric tons of production to India by 2025, S&P Global Platts reported.
According to the report, 56% of the firm’s capacity is based in India, with 44% located elsewhere.