Tata Steel Europe Puts Five Units on the Block
Mumbai, India:In a bid to further trim its exposure in Europe, Tata Steel has identified five non-core assets for potential sale and has sought buyer interest in the assets.

Tata Steel Europe, which has a debt of around € 3 billion, recently conducted a detailed portfolio review of all its businesses to assess their strategic fit and future potential.

Based on the review, the company has begun a process of seeking buyers for business units that supply products to niche markets, allowing the company to continue to strengthen its focus on strategic strip products and markets, said Tata Steel in a statement on Tuesday.

The units identified for sale include Cogent - a manufacturer and processor of electrical steels based in Newport, South Wales (UK), Burlington (Canada) and Sur ahammar (Sweden).

Two others on the block are Kalzip, an aluminium roofing and cladding business based primarily in Koblenz, Germany, and Firsteel, which coats steel for kitchen bakeware and is based in Walsall, West Midlands, UK.

This apart, Turkey-based Tata Steel Istanbul Metals, a coil coating company using steel bought from the open market, and Engineering Steels Service Centre (Wolverhampton) in the UK have also been put on the b lock.