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Corus keen on strategic tie-ups to save TCP plant
31 March 2010: Corus, the European arm of Tata Steel is keen on strategic tie-ups with investors having sound financials to rescue its recently mothballed Teesside Cast Products (TCP) plant in England.
Since the TCP offtake consortium reneged on its 10-year binding contract with Corus in April 2009, Corus has continuously sought a long-term future for its TCP business.
Earlier this month, four leading British trade unions at Corus had joined hands to form the National Trade Union Steel Co-ordinating Committee (NTUSCC) and had given an ultimatum to Corus to find a buyer for TCP and save the livelihoods of 1,600 employees or face industrial action.
Source: Hindu Business Line