In the financial report compiled by the Tata Steel metallurgical company, the company was summed up for the past reporting period from April 1, 2012 to March 31, 2013.
According to the company’s message, due to the weakening of the macroeconomic situation in Europe, where the visible demand for steel has decreased by 8 percent, which led to losses of almost a third of all consumption from the beginning of the global financial crisis in 2007, Tata Steel expects the write-off of goodwill and assets in consolidated financial statements at the level of 1.6 billion US dollars.
In addition, the company's ferrochrome assets in South Africa and the mini-metallurgical plant in Thailand were exposed to depreciation.
Tata Steel does not expect anything good for himself this year, foreseeing a further deterioration in the situation in Europe and Asia.
Tata Steel was curled about $ 1.6 billion of losses related to the depreciation of its assets
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