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Friday, Sep 30, 2022

Conscious decision to stop doing biz with Russia: Tata Steel Europe

"Tata Steel does not have any operations or employees in Russia. We have taken a conscious decision to stop doing business with Russia," the company said in a statement.

The company imports coal from Russia for its steelmaking process.(Reuters)

Tata Steel’s European arm said Wednesday it would stop doing business with Russia. A spokesperson said: “We have taken a conscious decision to stop doing business with Russia. Tata Steel does not have any operations or employees in Russia.”

“To ensure business continuity, all our steel manufacturing sites in India, the UK and the Netherlands have sourced alternative supplies of raw materials to end its dependence on Russia,” the company’s European arm said in a statement. However, the company’s Indian division has not issued any statement about doing business with Russia.

Tata Steel Europe is the largest steelmaker in the UK with primary steelmaking at Port Talbot in south Wales supporting manufacturing and distribution operations at sites across England, Northern Ireland and Wales, as well as Norway and Sweden. It employs over 8,000 people, with an annual crude steel capacity of 5 million tonnes. It supplies high-quality steel products to demanding markets, likee construction and infrastructure, automotive, packaging and engineering.

Last week, Infosys Ltd said it is moving its business out of Russia and is pursuing alternate options against the backdrop of the Russia-Ukraine conflict.

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First published on: 20-04-2022 at 08:41:33 pm
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