Tata Steel Europe is selling off five business units following a strategic review of its portfolio. The sale process will cover Cogent, a manufacturer and processor of electrical steels; Kalzip, an aluminium roofing and cladding business; Firsteel, a steel coating business; Tata Steel Istanbul Metals, a coil coating company; and Engineering Steels Service Centre. With the exception of Kalzip, which is based in Germany, and Tata Steel Istanbul Metals, based in Adapazari, Turkey, the remaining units are UK-based.
Hans Fischer, CEO of Tata Steel’s European operations said that the potential sales of these businesses follow on from the successful sale of other non-core businesses previously owned by the company. “The customer bases for the businesses being sold are distinct from the rest of Tata Steel Europe,” he said.
