Corus
| Corus
|
|
|---|---|
 |
|
| legal form | Corporation |
| founding | 1999 |
| resolution | April 2, 2007 |
| Reason for dissolution | Takeover by Tata Steel |
| Seat | London , UK |
| management | Philippe Varin ( CEO ) |
| Number of employees | 48,000 |
| Branch | Metal processing |
| Website | www.corusgroup.com |
Corus was a Dutch - British company that produced steel and aluminum and was acquired by Indian Tata Steel in 2007 . Corus has been operating as Tata Steel Europe since October 27, 2010 .
Company history
Corus was created on March 6, 1999 from the merger of the Dutch company Koninklijke Hoogovens with British Steel . Corus' shares were traded on the London Stock Exchange on the FTSE 100 , the New York Stock Exchange and the Dutch Stock Exchange.
The company had steel mills in the UK at Port Talbot in south Wales, Scunthorpe (North Lincolnshire), Teesside , (Cleveland) and IJmuiden (The Netherlands). There are also steel mills in Shotton, North Wales, Tostre , Rotherham and Stocksbridge , South Yorkshire , Motherwell , North Lanarkshire (Scotland) and Düsseldorf . In Hayange, France, there is a rolling mill that mainly rolls rails ( rolling mark : CORUS HY) and was modernized at the end of 2011.
In May 2006, a purchase agreement was signed with the American group Aleris for the rolling and extrusion activities of the aluminum division .
On April 2, 2007, Corus was taken over by the Indian steel company Tata Steel for € 9.4 billion. The last day of trading for the stock on the London Stock Exchange was March 29, 2007.
On December 4th, 2009 Corus announced the cutback of 1,700 jobs in Teesside.
As of September 27, 2011, all plants across Europe will be renamed from Corus to Tata Steel Europe (formerly Corus) , but they will keep their plant names, and daughters will not be renamed either.
The long product steel mills in Great Britain and the rail mill in Hayange were sold to Greybull Capital in 2016 and subsequently renamed British Steel Limited .
Company details before takeover
Board
Philippe Varin, Jim Leng, David Lloyd, Stuart Pettifor, Henk Vrins, Anthony Hayward, Richard Turner, Eric van Amerongen, Maarten van Veen, Kurt Lauk, Andrew Robb, Richard Reeves
Main shareholders
- Brandes Investment Partners: 10.9%
- Deutsche Bank AG: 3.15%
- Gallagher Holdings Limited: 2.93%
- Standard Life Investments Ltd .: 3.14%
- Legal & General Group plc: 3.92%
- Barclays plc: 3.01%
Cooperations
Corus was the sponsor of the famous Corus chess tournament in Wijk aan Zee , the Netherlands.
In October 2005, Corus committed to purchase a large part of its electricity from Eon and has committed itself to the power plant operator for a longer period of time. Corus had announced the closure of the aluminum plant in Voerde if no competitive electricity prices could be negotiated.
Individual evidence
- ↑ release Tata Steel unveils upgraded rail manufacturing plant in France ( Memento of 25 October 2011 at the Internet Archive ), 29. September 2011
- ↑ BBC: India's Tata wins race for Corus , January 31, 2007 (English)
- ↑ LSE finale: Corus to sign off in style . In: The Economic Times . March 29, 2007 ( online ).
- ↑ Julia Kollewe: Corus to cut 1,700 jobs. , The Guardian, December 4, 2009.
- ↑ Sean Farrell: Tata completes sale to Greybull, saving jobs and reviving British Steel . In: The Guardian . June 1, 2016 ( online ).