Steel is an old industry and hence not expected t0 have dramatic changes in its structure or technologies. Hence the steel companies were also generally not prepared toface such shocks. But Tata Steel, India ’s oldest private sector integrated steelmaker faced many such life threatening situations between I 991 and 2013. It had overcome three such scenarios successfully. In 200 7, the company acquired the British-Dutch Steel maker Corus, which wasﬁve times bigger than itself in revenue terms. Within a year of acquisition, the steel demand fell sharply in Europe, which severely affected the ﬁnancial performance Corus seriously. Tata Steel also had other problems like poor eﬂiciency at the European Plants, burgeoning debt and lack of integration between Indian and European operations. As on 2013 the company was struggling to turnaround the European operations which in turn resulted in overall loses.
Subramanian, S. (2014). Tata Steel - An Adaptive Organization. IMT Case Journal, 5(1), 1-36. https://jetbm.imtnagpur.ac.in/journal/vol5/iss1/5