Tata Steel Europe

Tata Steel Europe announced it proposes to close Orb Electrical Steels in Newport, South Wales, which could lead to a potential loss of up to 380 jobs. The business has been loss-making for several years.

Tata Steel Europe signed a sales and purchase agreement to sell its subsidiary Cogent Power Inc (CPI) to Japan's JFE Shoji Trade Corporation. CPI manufactures cores for electrical distribution transformers and employs nearly 300 people. Financial details were not disclosed.

Donges SteelTec, a subsidiary of Mutares Group, completed the acquisition of the Kalzip Group from Tata Steel Europe. The deal increases Donges Group's annual sales to approximately EUR 110 million and adds aluminium roof and facade solutions to its product portfolio.

Tata Steel Europe signed an agreement to sell its German aluminum roofing and cladding business Kalzip to German steel construction group Donges SteelTec. The transaction is expected to be completed by the end of September 2018.