Business

The EWC is troubled with Tata and ThyssenKrupp Merger

Tata steel unions now seem unhappy with the proposed merger with the German steel giant ThyssenKrupp which is to happen soon.

This is despite the previous stay for the deal, Union is against the sale of Trostre tinplate works.

 


The issue arises after both the companies proposed measures including the sale of Tata’s Trostre site in order for the merger to move ahead from the EU.
Well, the European Commission is worried that the joint venture might lead to reduce competition and result in high prices in markets such as tin plate packaging.

EWC (comprising the UK and Dutch unions) said:  

It was against the sale of tinplate works Trostre near Llanelli and few other proposed measures.

And the Carmarthenshire plant produces tin used in the food industry amongst other sectors. Having 650 workers, including 100 new starters over the last year.

Still, the union is increasingly concerned with the deal as it appears less of a merger and more of a takeover over Tata Steel by ThyssenKrupp.

Concerning the same,  they have called for an urgent meeting with Tata.

Tata’s European Works Council (EWC)

EWC in a statement said- The way the process has been supervised is completely unfair
We are thoughtfully concerned about the balance of power.

Moreover, we are worried that future strategic decisions may prioritize the interest of ThyssenKrupp operations over those of Tata Steel Europe.
Well, the merger proposed that 2,000 jobs would combine Tata Steel and ThyssenKrupp.
As per the current proposals, it should consider more than 2,000 jobs go from Tata. However, there was no such signal of similar reductions at the German company.
We have submitted a complete set of proposed solutions to the European Commission last week itself.

About the author

Esther Korado

Esther Korado

Esther has worked as a journalist for various print-based magazines for 2 years. She brings together relevant news pieces from various industries especially Technology and Business.
Email: esther@techozen.com

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