Corus group limited is a large holding company, under which a lot of subsidiary companies function. The role of these subsidiary companies is to manufacture, process and distribute steel products in Europe and also globally. It was incorporated on July 16th, 1999. The company was a result of the merger between Koninklijke Hoogovens and British Steel.Plc. The company was a constituent of the FTSE 100 Index. The establishment still exists by under a different banner. The Tata Steel of Indis acquired the company in the year, 2007. Now it is working under the banner, ‘Tata Steel Europe.’
Tata Steel couldn’t cope up with the increasing demand in Europe. The debt kept increasing even after the acquisition. So Tata Steel decided to offer the European Long Products division to the Klesch Group, in order to reduce the liabilities.Even after the company sold out its major loss-making divisions the company couldn’t get over and make profits and all acquisition talks ended in vain. Then the Tata fixed its final calling on 28th May 2016 for the bidders to bid for the remaining UK business and the sale was finally completed by the end of 2016.