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Tata Steel expects $25 bn global turnover (The Economic Times 6th Dec 2008)Tata Steel, with its global arm Corus, is poised to cross a combined global turnover of $25 billion in 2007-08. Apart from Corus, Tata Steel group includes Nat Steel Asia and Millenium Steel. “We are looking at a turnover of $25 billion this year. The Corus acquisition came into effect on April 3, 2007, and hence the impact will be on Tata Steel’s balance sheet of FY 2008,” Tata Steel managing director, B Muthuraman said at a press conference here on Saturday. “Our EBIDTA margin is also set to double from the current level of 12-13% to 26% in next five years as a result of the Corus acquisition,” he added. A substantial part of the improved earnings would come from the second wave of synergy that Tata Steel hopes to derive along with Corus on technology, systems and processes over these years. More
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