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In 2021, the company was split into a British and a Dutch branch: Tata Steel Netherlands (TSN) and Tata Steel UK, both of which fell directly under the Indian parent company Tata Steel. [1] Corus Group was formed through the merger of the Koninklijke Hoogovens and British Steel plc in 1999 and was a constituent of the FTSE 100 Index.
On 31 January 2007, Tata Steel won its bid for Corus after offering 608 pence per share, valuing Corus at £6.7 billion ($12 billion). [32] In 2005, Corus employed around 47,300 people worldwide, including 24,000 in the UK. [31] At the time of the acquisition, Corus was four times larger than Tata Steel, in terms of annual steel production.
In October 2006, Corus was taken over by the Indian company Tata. Corus Engineering Steels (Stocksbridge site) was renamed Tata Steels Speciality. During the 2008 recession Stocksbridge works reduced its workforce and output, focusing on producing lower quantities of high-value product for the aerospace and oil and gas markets.
Sogerail (later Corus France SA, 1999; Tata Steel France Rail, 2006) is a rail manufacturer near Hayange, in the Lorraine region of France.Since the 19th century, its products have been used by various railways across Europe as well as various overseas customers.
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The business now forms part of Tata Steel Europe. The company led the restructuring of the steel and tinplate industries around Swansea and Llanelli , building the Abbey Steelworks at Margam , planning a new deep water harbour at Port Talbot , and new tinplate works at Trostre and Velindre .
In 2007, Corus Group was purchased by India-based Tata Steel and was renamed Tata Steel Europe in 2010. In 2021, the company was split into a British (Tata Steel UK) and a Dutch (Tata Steel Netherlands) branch, these fall directly under the Indian parent company Tata Steel and Tata Steel Europe ceased to exist. [1]
The Corus Chess Tournament 2010 was the 72nd edition of the Corus Chess Tournament. [1] It was the final year under this name, as from 2011 the tournament was known as the Tata Steel Chess Tournament, after Tata Steel purchased the Corus Group. [2] It was held in Wijk aan Zee from 16 to 31 January 2010.