Corus becomesTata Steel
28 September 2010
Corus Steel, Europe's second-largest steel maker is finally being re-branded and will take on its parent Tata Steel's name and logo, three years after the Anglo Dutch company was acquired by India's largest private sector steel company.
The Tata Steel name and logo will appear on Corus's documents, product deliveries, locations and vehicles, but not everything will change immediately, the re-branding will be a gradual process, the Mumbai-based steelmaker said in a statement yesterday.
The re-branding will bring to an end to the 11 year-old Corus brand after British Steel, founded in 1967, merged with the 81 year-old Netherlands-based Koninklijke Hoogovens in 1999.
Tata Steel, with a tradition of making steel for over a hundred years, had acquired Corus in December 2006 for $12.11 billion (Rs53,526 crore) after a four month bidding war with Brazil's largest steelmaker CSN. (See: CSN blinks at 603p, Tata Steel bags Corus for $12.11 billion)
Corus marked the biggest-ever overseas acquisition by an Indian company and the second largest ever in the global steel business after the Mittal Steel - Arcelor merger in 2005.
Corus, renamed as Tata Steel Europe post acquisition, is Europe's second largest steel producer with manufacturing operations in the UK, the Netherlands, Germany, France and Belgium.