In addition to its Dutch plant, Tata has a plant in Wales and downstream operations, including finished products, across Europe. In the first six months of its financial year starting in April this year, Tata Steel Europe reported a 90 per cent plunge in earnings before interest, tax, depreciation and amortisation (EBITDA). It is also in conflict with the Italian government over its attempt to walk away from a 2018 deal to buy Ilva, Europe’s largest steel plant. Britain’s biggest steel factory, British Steel, went into compulsory liquidation in May and is subject to a provisional agreement to be sold to Chinese steelmaker Jingye. The deal will require regulatory and foreign investment clearance from European jurisdictions, including the European Union.

Source: The Irish Times November 19, 2019 14:03 UTC