International Steel Mills
May 11, 2019
Thyssenkrupp, Tata Steel Drop Venture Plans
Written by Sandy Williams
Thyssenkrupp has given up on trying to merge its steel division with Tata Steel’s European division after three years of planning. The two companies announced the termination of the proposed joint steel venture on Friday, saying they could not satisfy European antitrust regulators.
Thyssenkrupp also ended its plan to separate its capital goods business—car parts, plant engineering and elevators—from the company after the September announcement caused a collapse in share price.
