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Thyssenkrupp union raises alarm over TATA Steel JV

Live Mint reported that Thyssenkrupp AG’s labour representatives reiterated their concern over the company’s plans for a multi-billion dollar joint venture with Tata Steel Ltd after a recent plunge in profits at the Indian company’s European operations. Mr Wilhelm Segerath, a senior official at the IG Metall labor union who sits on Thyssenkrupp’s supervisory board said that “We are still concerned that the JV is a sensible solution given the circumstances. The diverging development at both companies emphasizes our concerns about the viability of Tata’s European operations, specifically the UK plant.”

Tata and Thyssenkrupp are currently putting the final touches on the deal that is to be inked in the coming weeks, according to people familiar with the matter, who asked not to be identified because the information is private. 

Source : Live Mint

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