Tata Steel and ThyssenKrupp have merged

Two large industrial enterprises, the German conglomerate ThyssenKrupp and the Indian steelmaker Tata Steel combined their European divisions. On September 20, the companies signed an agreement to merge their enterprises, dividing the shares equally. The head office of the "new company" will be located in the Netherlands, it is planned to employ about 48 thousand employees, and annual production is expected at 21 million tons. Representatives of the German company ThyssenKrupp noted that as a result of this cooperation, about 2 thousand employees in both companies will be reduced.

Over the past few days, Tata Steel's shares have increased by 2.1% and will continue to grow. The trade will be available during the European trading session, from 04:00 to 10:00 (GMT).

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