Corus sells European aluminium smelters

Archiv – United Kingdom / Netherlands | Metals producer Corus, part of India’s Tata Steel group, has sold two aluminium smelters to Briand Investments, an affiliate of London-based investment group Klesch & Co. Furthermore, the company is considering a revamping of its operations at the IJmuiden steel plant in the Netherlands.United Kingdom / Netherlands | Metals producer Corus, part of India’s Tata Steel group, has sold two aluminium smelters to Briand Investments, an affiliate of London-based investment group Klesch & Co. Furthermore, the company is considering a revamping of its operations at the IJmuiden steel plant in the Netherlands.
The two Corus smelters at Delfzijl in the Netherlands and Voerde in Germany can together produce 200 000 tonnes a year and are currently operating at near full capacity, Klesch & Co’s Chairman Gary Klesch has told the Reuters news agency. ’I am taking a five-to-ten-year view – I do think over the next five to ten years we will see a rebound in prices,’ he added.
Meanwhile, the planned revamp at Corus’ IJmuiden steel plant follows the decline in sales in the global steel industry. Up to 1000 jobs would be lost from a total workforce of 9500, as a result of which Corus hopes to save Euro 250 million.
In related news, the board of Tata Steel has appointed Kirby Adams to succeed Philippe Varin as CEO of Anglo-Dutch Corus and of Tata Steel Europe, the holding company of Tata Steel’s European operations. Mr Varin, who is stepping down on April 6 after six years in the role, was formerly Chief Executive of BlueScope Steel which is based in Melbourne, Australia. He has also served as Chairman of the International Iron and Steel Institute (now the World Steel Association).