Corus needs to look beyond Europe, US

Written by PTI | Singapore | Updated: Nov 30 2013, 10:12am hrs
Tata Steel Europe, formerly known as Corus, needs to look beyond Europe and US and focus on emerging markets to revive its fortune, according to Tata group chairman Emeritus Ratan Tata. While admitting that $12-billion deal to acquire the Anglo-Dutch steel maker Corus was expensive, Tata, however, said he was hopeful of a turnaround by the struggling European steel giant. I think there are many things that Corus probably needs to do. It has been a traditional Europe-facing and US-facing company. While the US has been coming out of recession, Europe is still flat or down and I think the company needs to look at different markets, including the emerging markets, as a market for its products.