tata steel limited -gdr regs (TATLY) Key Developments
Tata Steel Limited Receives Contract for Decommissioning Operations at the United Kingdom's Sellafield Site
Jun 25 15
Tata Steel Limited was awarded contract for decommissioning operations at the United Kingdom's Sellafield site. Under the four year contract, Tata Steel will modify and refurbish a fleet of packages and gamma gates the high-integrity steel containers and doors used for shielding during transfer of waste from legacy storage facilities on site to modern, purpose-built stores. The package and gamma gates will be used in the decommissioning of the Magnox Swarf Storage Silo, one of the old waste storage facilities at the Sellafield site. The material will be transferred to the new Silo Direct
Encapsulation Plant, where it will be packaged for storage.
Tata Steel And Singapore Financial Investor Shown Interest In Electrosteel
Jun 11 15
Tata Steel Limited (BSE:500470) and a Singapore-based financial investor have shown interest in Electrosteel Steels Limited (NSEI:ESL), which has been put up for sale by lenders. Electrosteel has now informed BSE that the lenders and ESL has now received indicative term sheets for investment in the company from Tata as well as from a financial investor based in Singapore," the filing added. Electrosteel has been under corporate debt restructuring, a mechanism where borrowers get some breathing space to repay loans provided that they stick to certain targets, since 2013. Electrosteel said its lenders as well as the company are exploring the proposals. The Singaporean financial investor's name could not be ascertained.
Tata Steel's UK Unions Set June 22, 2015 as Strike Date
Jun 9 15
Tata Steel faces 'massive disruption' warned trade unions in the UK, as they set the date for a strike over Tata Steel's plans to close its long running pension scheme.Strike action is set to begin on June 22, 2015. The strike action on June 22 would involve a full day of stoppage ”where only work essential to safety and maintaining the integrity of plants would be carried out". Members of the Community, Unite, UCATT and GMB unions voted in favour of strike action over plans to close the defined benefit scheme.
Tata Steel Workers Vote to Strike by Huge 9-1
May 30 15
Workers at Tata Steel have voted by almost 9-1 to go on strike in a row over pensions, threatening the first national walkout in the industry for more than 30 years. Members of the Community union backed strikes by 88% and other forms of action by 96% in a turnout of 76% - all well above new thresholds for union ballots being planned by the Government. Tata employs around 7,000 people in Wales, including more than 5,000 at Port Talbot. Unions are protesting against plans to close the British Steel Pension Scheme to future accrual, which they say could see workers retiring at 65 instead of 60. The company has warned that its pension scheme is heading for a huge shortfall of £2 billion.
Tata Steel Unit Sale Talks Continue But Other Options Eyed
May 28 15
Tata Steel Limited (BSE:500470) is in talks with employees about transferring its "long products" unit into a wholly-owned subsidiary, but said talks to sell the business to Klesch Group Limited. British trade union Community welcomed the talks, even as it is due to declare on Friday the results of an industrial action ballots over Tata Steel's proposal make changes to its employees' final-salary pension scheme. "We are pleased that Tata Steel has taken forward one of the key recommendations of the Syndex report into alternatives to the sale to the Klesch Group," said Roy Rickhuss, general secretary of Community. A Tata Steel spokesman confirmed the talks, but said: "In order to maximize the prospects of securing a viable future for Long Products Europe, Tata Steel is continuing its discussions with the Klesch Group about a potential sale of the business."