Tata Steel reorganizes subsidiaries in India and Europe

Tata Steel has embarked on a restructuring and simplification of its group structure by downsizing and reorganizing its subsidiaries in Europe and India. Mr. T.V. Narendran, CEO of Tata Steel, said: “We have about 300 subsidiaries in Europe. The clean-up has already begun and we hope to reduce it by 100-120 this year. Some of them were created in the 1880s and are 100-150 years old. They have old commitments and problems that need to be dealt with. The journey is a little tiring. "

He said: “In India, where Tata Steel has 30 subsidiaries, the training will be more related to the operating companies. They will be reorganized into four areas for simplicity and synergy and scale. The four areas could be: Long Products, Processing, Infrastructure, Utilities and Mining Assets. ”