7.5 C
March 21, 2023

Corus partners up with Romanian peer in EUR 12M deal

Corus, the European arm of India’s Tata Steel Ltd., will invest some EUR 12 million together with a Romanian peer in a production unit in Sfantu Gheorghe, central Romania, local authorities said yesterday, Mediafax informs. According to Rosner Herman, president of the Trade and Industry Chamber in Covasna county, Corus and its Romanian associate will hire some 75 staff at the new production unit to be opened in 2011. Herman did not disclose the name of the Romanian company, but mentioned it is a company specialized in mounting sandwich panels on the local market. Corus is Europe’s second largest steel producer with annual revenues of around GBP12 billion and a crude steel production of over 20 million tons. Corus was acquired by India’s Tata Steel for more than $12 billion in 2007. In July 27, Corus International opened an office in Bucharest, in a move to strengthen its presence in the Central and Eastern Europe.

Related posts

Director of Ford Romania: Our investment – 1.3bln euro in 11 years since taking over Craiova plant


EU Commission wants budget raised by nearly 5 pc

Nine O' Clock

June trade deficit up EUR 25.4 M