# Tata Steel and Thyssenkrupp agree to merge European steel operations

Tata Steel and Thyssenkrupp signed a memorandum of understanding to form a 50/50 joint venture merging their European steel operations, creating Europe's second-largest steel group. The deal is expected to result in 4,000 job losses and annual cost savings of up to 600 million euros.

- Type: Acquisition
- Announced: 2017-09-20
- Where: Germany
- Jobs: -4,000
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Thyssenkrupp](https://endata.com/companies/833.md) (partner)
- [Tata Steel](https://endata.com/companies/3546.md) (partner)

## Sources

- [bbc.com](https://www.bbc.com/news/business-41329552), 2017-09-20: "The firms have signed a memorandum of understanding that proposes a 50/50 joint venture, leading to annual cost savings of up to 600m euros."
- [bbc.co.uk](https://www.bbc.co.uk/news/business-41329552), 2017-09-20: "The firms have signed a memorandum of understanding that proposes a 50/50 joint venture, leading to annual cost savings of up to 600m euros."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.