Tata Steel in talks with German company about merging assets

Indian multinational steel-making company Tata Steel reported increased sales for the second quarter of the fiscal year. From April to June, the company shipped 2.75 million tons of steel products. Another highlight of the quarter was a significant jump in exports, which grew 17 times in volume over the results of the previous year. At the moment, the company’s pellet plant achieved best-ever volume of production. Now, Tata Steel is in discussions with the German concern ThyssenKrupp about merging their European steel assets.

Since the beginning of the July, Tata Steel’s shares rose by 2,5% and continue rising. The trade will be available during European session, from 4:45 to 11:25 GMT.

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