Tata cuts Corus steel output

The company said that production at its plants outside Europe will not be affected by the reduced production targets.

Corus, Europe8217;s second largest steelmaker, now produces more than 20 million tonnes of crude steel a year.

8220;We are taking appropriate steps to optimise our operations and protect our sound financial position over the next few months,8221; Corus chief executive Philippe Varin said.