Tuesday, April 01, 2008

Corus back on a roll as steel demands grow worldwide

Last year, the company was taken over by Indian conglomerate Tata, which its managing director, Kees Stolwijk, says is opening up new opportunities for the group, including its South Yorkshire operations.
It was feared that the Indian group might sell off Corus Engineering Steels (CES) as it had no engineering steels operations of its own, but Mr Stolwijk believes that the growth of the Chinese and Indian economies, and Tata's own automotive interests, mean that CES is an integral part of the business.
Last week, Tata added Jaguar and Land Rover, two of Corus's clients, to its group.
Mr Stolwijk said: "When Tata executives have visited, they've been impressed by our products and are quite supportive of the business. The takeover should give us more opportunities, such as in the automotive industry where Tata is a growing force.
"We make sophisticated products for a number of growing industries such as power generation and aerospace. If we get it right and keep improving, we will fit nicely within Tata."
Over the last few years, the company has switched its focus to the specialist section of the market because it cannot compete with the mass production of steel coming out of lower-cost countries, and rising commodity prices.
The firm supplies steel for the A380 Airbus – the world's largest passenger aircraft – and Boeing 787 Dreamliner. It also produces steel for Formula One cars.

Read the full story at the Yorkshire Post

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