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Tata Steel Europe

Type	Subsidiary
Industry	Steel
Founded	Koninklijke Hoogovens N.V. in 1918 British Steel Corporation in 1967 Corus in 1999
Headquarters	London, United Kingdom
Key people	Karl-Ulrich Kohler, MD & CEO Uday Chaturvedi, CTO Tor Farquhar, Executive Director Human Resources Frank Royle, Director Finance
Products	Steel
Revenue	GB£10,142 million (2005)
Operating income	GB£680 million (2005)
Net income	GB£451 million (2005)
Employees	50,000
Parent	Tata Steel, member of Tata Group
Website	http://tatasteeleurope.com

Tata Steel Europe (formerly Corus Group) is a multinational steel-making company headquartered in London, United Kingdom.^[1][2] It is the second-largest steel-maker in Europe and is a subsidiary of Tata Steel of India, one of the ten largest steel producers in the world.^[1]

Corus Group was formed through the merger of Koninklijke Hoogovens and British Steel on 6 October 1999 and was a constituent of the FTSE 100 Index until it was acquired by Tata in 2007. On 27 September 2010 Corus announced it was changing its name to Tata Steel Europe and adopting the Tata corporate identity.

History[link]

Background - Corus[link]

British Steel Corporation was a large British steel producer, consisting of the assets of former private companies which had been nationalised on 28 July 1967 by the Labour Party government of Harold Wilson. On 5 December 1988 the company was privatised as a result of the British Steel Act 1988. Koninklijke Hoogovens was a Dutch steel producer founded in 1918, located in IJmuiden.

On 6 October 1999 British Steel merged with Koninklijke Hoogovens to form Corus Group forming the third largest producer of steel behind POSCO of South Korea and Nippon Steel of Japan. British Steel formed about two-thirds of the merged group.

On 16 March 2006, Corus announced that it had signed a letter of intent to sell its aluminium rolled products and extrusions businesses to Aleris International, Inc. for £570m. Corus retained its smelting operations and supply Aleris under a long-term agreement. On 1 August, the sale to Aleris Europe was completed.^[3]

Takeover by Tata Steel[link]

On 30 January 2007, Tata Steel, part of India's Tata Group, purchased a 100% stake in the Corus Group at 608 pence per share in an all cash deal, cumulatively valued at US$12.04 billion.^[4]

Tata surprised the credit default swap segment of the derivative markets by deciding to raise $6.17bn of debt for the deal through a new subsidiary of Corus called 'Tata Steel UK', rather than by raising the debt itself. Tata's security credit rating is investment grade, whereas the new subsidiary may not be. The higher risk associated with raising debt through a subsidiary with a lower credit rating prompted Fitch Ratings to downgrade its rating of the credit swap risks in the takeover to 'negative'. Fitch also stated that Corus' responsibility for the debt may lead to Corus' own unsecured debt rating being downgraded. This does not affect the rating of bonds issued by Corus which are secured debt.^[5]

On 19 November 2006, the Brazillian steel company CSN launched a counter offer for Corus at 475 pence per share, valuing it at $8.4 Billion.

On 10 December 2006, Tata preemptively upped the offer to 500 pence (the “Revised Tata Acquisition”). Other than the increased offer price, the Revised Tata Acquisition was subject to the same terms and conditions as set out in the original offer.

On 11 December 2006, CSN announced a formal offer for the Company at an offer price of 515 pence per Corus Share (the “CSN Acquisition”), valuing the deal at $ 9.6 Billion.. The CSN Acquisition would also be implemented by way of a scheme of arrangement and is subject to a pre-condition that either Corus Shareholders reject the Tata Scheme or the Tata Scheme is otherwise withdrawn by Corus or lapses. The Corus board promptly recommended both the revised offers to its shareholders.

On 19 December 2006, Corus announced the following:

In the light of the competing offers for Corus by Tata Steel UK Limited (“Tata”) and CSN Acquisitions Limited (“CSN”), the Company announced on 12 December 2006 that the Corus Directors intended to propose resolutions to shareholders at each of the reconvened EGM and Court Meeting to be held on 20 December 2006 to adjourn those meetings. The Company also stated that it would announce a proposed date for those adjourned meetings in due course.

Also on 19 December 2006, UK Watchdog the Panel on Takeovers and Mergers announced that the last date for each of Tata and CSN to announce revised offers for the Company, should they wish to do so, is 30 January 2007. They also warned that it would begin an auction procedure if the two remained in competition.^[6]

On 31 January 2007, following the lack of agreement on an offer, the previously mentioned auction process was triggered. Following the conclusion of the auction process (at an unprecedented length of nine rounds) conducted by the Panel in accordance with Rule 32.5 of the Code (the "Auction"), Tata Steel announced the proposed acquisition of Corus Group at 608p per share, that being 5p more than CSN's top offer of 603p. The £6.7 billion deal includes £500 million of debt.

The Corus Group board recommended the acquisition to their shareholders later the same day.

Tata Steel Europe[link]

On 27 September 2010 Corus announced that it was changing its name to Tata Steel Europe and adopting the Tata logo. The style change started with immediate effect on transactional documents but the complete branding change would take place over an unspecified period.

Operations[link]

Since 2008, Corus and subsequently Tata Steel Europe has been structured into three divisions. These are:

• Strip Products Division
• Long Products Division - construction, industrial, engineering, rail and tubular products
• Distribution and Building Systems Division - steel products for the building industry, and distribution for other products

Following the sale of Teesside Steelworks to SSI in February 2011, Tata Steel Europe now operate three major integrated steel plants:

• Port Talbot, South Wales
• Scunthorpe, North Lincolnshire
• IJmuiden in the Netherlands

It also has rolling mills and steel product manufacturing sites situated at:

• Shotton, North Wales (which manufactures Colorcoat products)
• Trostre, Llanelli (manufactures Tinplate)
• Llanwern, Newport
• Rotherham (Aldwarke) (manufactures Engineering Steel^[7])
• Rotherham (Brinsworth Strip Mills)
• Stocksbridge, South Yorkshire
• Motherwell, North Lanarkshire, Scotland (Dalzell Works) (manufactures Steel Plate)
• Cambuslang, South Lanarkshire, Scotland (Clydebridge Works)
• Hayange, France (Rail Mill)
• Bergen, Norway
• Moerdijk, Netherlands

In addition it has tube mills located at Corby, Stockton and Hartlepool in England and Oosterhout, Arnhem, Zwijndrecht and Maastricht in the Netherlands. It has service centres predominantly in Northern Europe and sales offices in around 70 countries around the world. It has a color coating line in Sakarya, Turkey.

Tata is the sponsor of the Tata Steel Chess Tournament in the Netherlands and the UK triathlon team.

On 26 January 2009, Corus announced job cuts of 3500 worldwide and 2500 in the UK due the economic downturn and the reduction of steel demand. It was announced that Corus's Rotherham plant would suffer the worst cutting over 600 jobs. On the same day it was announced that Corus would be closing down its defined benefit pension scheme to new members.

Products[link]

Construction[link]

Corus' steel products for construction include:

• "Advance" sections - standard structural sections such as universal beams, universal columns, piles and angle sections
• "Celsius" sections - hot-finished hollow sections
• "Hybox" sections - cold-formed hollow sections
• Slimdek - composite metal decking

Corus publish a reference guide known as the "Blue Book", which contains details of construction steel sections, and design information to use with Eurocode 3 and BS 5950.

Electrical steels[link]

Tata Steel Europe produce electrical steels via their subsidiary Cogent Power.^[8]

Tata Steel Europe also intends to produce steel roofs that generate power, using Dyesol technology.

See also[link]

• List of steel producers

References[link]

External links[link]

• Official website

v t e Tata Group Divisions and subsidiaries Cromā · The Indian Hotels Company (Ginger · Taj Hotels Resorts and Palaces) · Tata Advanced Systems · Tata Business Support Services · Tata Chemicals (British Salt · Tata Chemicals Europe) · Tata Communications (VSNL International Canada) · Tata Consultancy Services (CMC · Tata Research Development and Design Centre) · Tata Elxsi · Tata Global Beverages (Eight O'Clock Coffee · Good Earth Teas · Tata Coffee · Tetley) · Tata Housing Development Company · Tata Interactive Systems · Tata Motors (Jaguar Land Rover · Tata Daewoo · Tata Hispano) · Tata Power (Tata Power SED) · Tata Steel (Tata Steel Europe · Tayo Rolls) · Tata Technologies · Titan Industries (Tanishq) · Trent (Star Bazaar · Westside) · Voltas Joint ventures TATA AIG General Insurance (74%) · TATA AIG Life Insurance (74%) · Tata BP Solar (50%) · Tata McGraw-Hill · Tata Sky (80%) · Tata Teleservices (Tata DoCoMo · Virgin Mobile India (50%)) (74%) · Telcon Construction Solutions (40%) Brands I-shakti People Jamsetji Tata · Ratanji Dadabhoy · R Gopalakrishnan · Dorabji Tata · Nowroji Saklatwala · J. R. D. Tata · Ratan Tata · Pallonji Mistry · Surya Kant · Cyrus Pallonji Mistry Other Bombay House · Tata-Dhan Academy · Tata Football Academy · Tata Sons Category

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Ian Nepomniachtchi
Full name	Ian Aleksandrovich Nepomniachtchi
Country	Russia
Born	(1990-07-14) July 14, 1990 (age 21) Bryansk, Russian SFSR
Title	Grandmaster
FIDE rating	2716 (May 2012) (No. 18 in the January 2012 FIDE World Rankings)
Peak rating	2733 (January 2012)

Ian Aleksandrovich Nepomniachtchi (Russian: Ян Непо́мнящий; born July 14, 1990) is a Russian chess grandmaster and the chess champion of Russia in 2010. As of November 2011^[update], he was listed by FIDE as having an Elo rating of 2730.

He won the European Youth Chess Championship three times, in 2000 in the U10 category, and in 2001 and 2002 in the U12. In 2002 he also won the World Youth Chess Championship in the U12 category. By winning the Aeroflot Open in Moscow in February 2008, he qualified for the 2008 Dortmund Sparkassen Chess Meeting. In 2010, in Rijeka, he won the European Individual Chess Championship with 9/11.^[1] In the same year, in Moscow, he won the Russian Chess Championship, defeating Sergey Karjakin in a playoff.^[2] In November 2011 Nepomniachtchi tied for 3rd–5th with Vasily Ivanchuk and Sergey Karjakin in the category 22 Tal Memorial in Moscow.^[3]

Notes[link]

References[link]

• World Youth Chess Championship 2002 TWIC
• Manual 2007 of the European Chess Union (2007)

External links[link]

Wikimedia Commons has media related to: Ian Nepomniachtchi

• Ian Nepomniachtchi player profile at ChessGames.com
• Ian Nepomniachtchi player profile at the Internet Chess Club
• Biography of Ian Nepomniachtchi at the Corus Chess website

This biographical article relating to a Russian chess figure is a stub. You can help Wikipedia by expanding it. v t e

Ratan Tata
Born	(1937-12-28) 28 December 1937 (age 74) Bombay, Bombay Presidency, British India
Residence	Colaba, Mumbai, India[1]
Nationality	Indian
Ethnicity	Parsi
Alma mater	Cornell University Harvard University
Occupation	Chairman of Tata Group
Years active	1962-present
Religion	Zoroastrian
Spouse	unmarried
Awards	Padma Bhushan (2000) Padma Vibhushan (2008) KBE (2009)
Signature	150px

Sir Ratan Naval Tata KBE (Gujarati: રતન નવલ ટાટા; born 28 December 1937) is an Indian businessman who became chairman (1991– ) of the Tata Group, a Mumbai-based conglomerate.^[2] He is a member of a prominent family of Indian industrialists and philanthropists (see Tata family).

Among many other honours accorded him during his career, Tata received the Padma Bhushan, one of India’s most distinguished civilian awards, in 2000 and Padma Vibhushan in 2008.^[3] He has also been ranked as India's most powerful CEO.^[4]

Early life[link]

Ratan Tata was adopted to famous Tata , a prominent family belonging to the Parsi community. Ratan is the grandson of Tata group founder Jamsedji Tata. His childhood was troubled, with his parents separating in the mid-1940s when he was merely seven and his younger brother Jimmy was five years old. Their mother moved out and both Ratan and his brother were raised by their grandmother Lady Navajbai.^[5]

Tata started his schooling at Campion School and finished at Cathedral and John Connon School both in Bombay.^[6] Ratan Tata completed his B.S. in architecture with structural engineering from Cornell University in 1962, and the Advanced Management Program from Harvard Business School in 1975.^[7] He is a part of the Alpha Sigma Phi fraternity.^[8]

Career at Tata Sons[link]

When he returned to India in 1962 after turning down a job with IBM on the advice of JRD, he was sent to Jamshedpur to work on the shop floor at Tata Steel with other blue-collar employees, shovelling limestone and handling the blast furnace.^[9] In 1971, he was appointed the Director of National Radio and Electronics (Nelco), which was in dire straits when he came on board: with losses of 40% and barely 2% share of the consumer electronics market. However, just when he turned it around (from 2% to 25% market share), the Emergency was declared. A weak economy and labour issues compounded the problem and Nelco was quickly near collapse again.

For his next assignment, in 1977 he was asked to turn around the sick Empress Mills, which he did. However, he was refused a Rs 50 lakh investment required to make the textile unit competitive. Empress Mills floundered and was finally closed in 1986.

In 1981, JRD Tata stepped down as Tata Industries chairman, naming Ratan as his successor. He was heavily criticized for lacking experience in running a company of the scale of Tata Industries.^[9]

In 1991, he was appointed group chairman of the Tata group. As group chairman, he has been responsible for converting "the corporate commonwealth" of different Tata-affiliated companies into a cohesive company. He has been responsible for the acquisition of Tetley, Jaguar Land Rover and Corus, which have turned Tata from a largely India-centric company into a global business, with 65% revenues coming from abroad. He also pushed the development of Indica and the Nano. He is widely credited for the success of the Tata Group of companies, especially after the liberalization of controls after the 1990s.^[1]

In August 2007, Ratan Tata lead Tata Group's acquisition of British steel maker Corus. At that time, this was the largest takeover of a foreign company by an Indian company, and resulted in Tata Group becoming the fifth largest steel producer in the world. According to the BBC, however, some analysts criticized the move, saying that Tata Group had overpaid for Corus and had prioritized national pride before its shareholders.^[10]

Tata is set to retire in December 2012 to be succeeded by Cyrus Mistry, the 42-year-old son of Pallonji Mistry and managing director of Shapoorji Pallonji Group.^[11]

Honours, awards and international recognition[link]

Ratan Tata serves in senior capacities in various organisations in India and he is a member of the Prime Minister's Council on Trade and Industry. Tata is on the board of governors of the East-West Center, the advisory board of RAND's Center for Asia Pacific Policy and serves on the program board of the Bill & Melinda Gates Foundation's India AIDS initiative.^[12]

Ratan Tata's foreign affiliations include membership of the international advisory boards of the Mitsubishi Corporation, the American International Group, JP Morgan Chase and Booz Allen Hamilton. He is also a member of the board of trustees of the RAND Corporation, University of Southern California and Cornell University.^[13][14] He also serves as a board member on the Republic of South Africa's International Investment Council and is a member of the Asia-Pacific advisory committee for the New York Stock Exchange. In 2010, he joined BMB Group as an advisory board member.

• FIRST Award for Responsible Capitalism.^[27]
• 26th Robert S. Hatfield Fellow in Economic Education, awarded by Cornell University^[28]
• Recipient of the 'Global Indian Award' at the NASSCOM Global Leadership Awards 2008^[29]

References[link]

External links[link]

Wikimedia Commons has media related to: Ratan Naval Tata

• Ratan Naval Tata's chairman profile at Tata Group
• Profile at The Guardian
• Ratan Tata collected news and commentary at The Wall Street Journal
• Ratan Naval Tata collected news and commentary at The Bloomberg Businessweek
• Ratan Naval Tata collected news and commentary at The Times of India
• Ratan Tata at the Notable Names Database
• "Ratan Tata '59: The Cornell Story" YouTube video

v t e Chairmen of Tata Group Jamsetji Tata Dorabji Tata Nowroji Saklatwala J. R. D. Tata Ratan Tata Cyrus Pallonji Mistry Category

v t e Tata Group Divisions and subsidiaries Cromā · The Indian Hotels Company (Ginger · Taj Hotels Resorts and Palaces) · Tata Advanced Systems · Tata Business Support Services · Tata Chemicals (British Salt · Tata Chemicals Europe) · Tata Communications (VSNL International Canada) · Tata Consultancy Services (CMC · Tata Research Development and Design Centre) · Tata Elxsi · Tata Global Beverages (Eight O'Clock Coffee · Good Earth Teas · Tata Coffee · Tetley) · Tata Housing Development Company · Tata Interactive Systems · Tata Motors (Jaguar Land Rover · Tata Daewoo · Tata Hispano) · Tata Power (Tata Power SED) · Tata Steel (Tata Steel Europe · Tayo Rolls) · Tata Technologies · Titan Industries (Tanishq) · Trent (Star Bazaar · Westside) · Voltas Joint ventures TATA AIG General Insurance (74%) · TATA AIG Life Insurance (74%) · Tata BP Solar (50%) · Tata McGraw-Hill · Tata Sky (80%) · Tata Teleservices (Tata DoCoMo · Virgin Mobile India (50%)) (74%) · Telcon Construction Solutions (40%) Brands I-shakti People Jamsetji Tata · Ratanji Dadabhoy · R Gopalakrishnan · Dorabji Tata · Nowroji Saklatwala · J. R. D. Tata · Ratan Tata · Pallonji Mistry · Surya Kant · Cyrus Pallonji Mistry Other Bombay House · Tata-Dhan Academy · Tata Football Academy · Tata Sons Category

Loek van Wely
Loek van Wely at the 2005 Corus chess tournament
Full name	Loek van Wely
Country	Netherlands
Born	(1972-10-07) 7 October 1972 (age 39) Heesch, The Netherlands
Title	Grandmaster (1993)
FIDE rating	2682 (May 2012) (No. 55 in the September 2011 FIDE World Rankings)
Peak rating	2714 (October 2001)

Loek van Wely (born 7 October 1972) is a chess Grandmaster from the Netherlands. He won the Dutch Chess Championship six times straight from 2000 through 2005. He was rated among the world's top ten in 2001. In 2002, in Maastricht, Netherlands, van Wely took on the computer program Rebel in a four-game match. The computer won two games and van Wely won two games. In 2005, he led the Dutch team to victory at the European Team Championships in Gothenburg.

Van Wely is a frequent participant in the elite Corus chess tournament. As of 2010, he has participated in the tournament 19 years in a row.^[1]

In May 2010 he won the 14th Chicago Open.^[2] In 2011, came first at Berkeley.^[3]

References[link]

External links[link]

• Loek van Wely player profile at ChessGames.com

This biographical article relating to a Dutch chess figure is a stub. You can help Wikipedia by expanding it. v t e