Tata Steel has asked employees at its Corus unit to “brace themselves” to bring profit margins of European business closer to its Jamshedpur plant back home, but ruled out closing any of the four main plants in Europe. Asserting that Corus acquisition, which was consummated much before the ongoing downturn began in the steel sector, remains a “very good deal”, Tata Steel chief B Muthuraman said in an interview that there was a significant scope for improving efficiency and cut costs at Corus plants.
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