Search company, investor...

Founded Year

1999

Stage

Acq - P2P | Acquired

Valuation

$0000 

About Corus

Corus is a customer focused, value-driven company, which manufactures, processes and distributes steel products and services to customers worldwide.

Headquarters Location

30 Millbank

London, England, SW1P 4WY,

United Kingdom

+44 (0) 1642 404040

Loading...

Loading...

Corus Patents

Corus has filed 8 patents.

The 3 most popular patent topics include:

  • block ciphers
  • broadcast engineering
  • container formats
patents chart

Application Date

Grant Date

Title

Related Topics

Status

5/22/2006

1/24/2012

Photovoltaics, Solar cells, Semiconductor devices, Applications of photovoltaics, Energy conversion

Grant

Application Date

5/22/2006

Grant Date

1/24/2012

Title

Related Topics

Photovoltaics, Solar cells, Semiconductor devices, Applications of photovoltaics, Energy conversion

Status

Grant

Latest Corus News

After Tata Steel’s big losses, shareholders could ask if it’s time to sell Corus-Business Journal

Nov 2, 2023

(Graphics: Mint) Tata Steel confronted a twin problem, marked by impairment fees and restructuring provisions associated to its UK enterprise. Its different challenges embody overcapacity, financial uncertainties, excessive mounted prices, legacy liabilities, and commerce tariffs. Economic components, equivalent to fluctuating demand and Brexit add to the complexity. High mounted prices and legacy liabilities are tough to cut back within the quick time period, and commerce tariffs impression exports and imports. The firm has continued to categorical issues relating to the sustainability of its European enterprise, citing inadequate money movement and liquidity. Tata Steel’s thriving Indian operations and the struggles in Europe current a stark distinction. While India maintains a wholesome revenue margin, Europe lags behind. A good portion of the impairment and restructuring prices pertained to the decarbonisation venture undertaken within the UK as a part of a £1.25 billion funding with the UK authorities. This initiative entails the institution of a 3 million tonne electrical arc furnace (EAF) on the Port Talbot facility, designed to exchange current carbon-intensive belongings. As a consequence, Tata Steel determined to impair these heavy-end belongings, incurring an impairment cost of ₹2,631 crore. The transition to EAF know-how is anticipated to yield substantial financial savings, together with carbon price reductions within the vary of £50–60 per tonne. To help this endeavour, Tata Steel intends to make investments £750 million within the EAF venture, complemented by a £500 million grant from the U.Okay. authorities, with the plant slated to turn out to be operational inside 36 months. Additionally, the corporate made provisions of ₹2,425 crore for restructuring bills, encompassing potential asset closures and redundancy prices. Tata Steel additionally accounted for provisions amounting to ₹1,187 crore, particularly associated to previous service prices related to the British Steel Pension Scheme (BSPS). This determination adopted the completion of an insurance coverage buy-in for the BSPS in the course of the earlier quarter, thereby lowering the pension-related dangers for Tata Steel U.Okay., the first sponsor of the pension scheme. One would keep in mind that Tata Steel’s try to merge with the German entity Thyssenkrupp failed, mainly due to the substantial pension obligations related to the German firm. So is that this an indicator of preparation for a hearth sale of the European section? The UK enterprise has been a millstone round its neck. Since the acquisition of Corus Plc (now, Tata Steel Europe) for $12 billion in 2007, Tata Steel has grappled with the problem of revitalising its operations, initially due to widespread inflow of competitively priced metal imports from China. The British authorities, cognisant of sustainability aims, was reluctant in extending help for coal-based metal manufacturing. Concurrently, points pertaining to the unavailability of gasoline assets and the escalation of vitality prices posed further obstacles. The Corus acquisition did bolster Tata Steel’s whole manufacturing capability to 18 million tonne of which Corus produced 10 million tonne. However, the UK enterprise’ manufacturing has since dwindled to 3 million tonne, whereas Indian operations now boast an annual manufacturing capability of 21 million tonne. Ever since its acquisition, there have been struggles, not simply monetary ones. It struggled with pricing energy available in the market. Then the corporate confronted labour struggles, which it later overcame. Tata Steel efficiently executed a considerable deleveraging technique between fiscal years 2020 and 2022. From its peak of roughly ₹1 lakh crore in FY20, the online debt has been almost halved to ₹51,049 crore (March 2022). Tata Steel’s profitable debt discount and impressive plans to develop its Indian manufacturing capability to 40 million tonne by 2030, point out a transparent strategic shift in direction of prioritising the Indian market. One is aware of the lengthy financial cycles of commodity companies equivalent to metal. But for shareholders, the continued ache, on account of a possible deadwood within the portfolio, makes it unattainable to swallow metal. Shareholders can not however wonder if the European enterprise is a sustainable and worthwhile enterprise. Is this one other pet venture akin to the Nano? But then, at what price to non-promoter shareholders? The persistent ache and fixed right-sound-byte signaling about issues across the European section want a closure, and it’s essential to decide the trail ahead. The query that one confronts is- can it have a sustainable and worthwhile existence? If so, how way more time and treasured capital can be wanted? After all, in enterprise, success is just not solely decided by realizing when to enter a market or enterprise, but in addition by the knowledge of realizing when to exit. They can’t simply make metal, they want to make sustained earnings too. Disclaimer: This is just not an funding recommendation. Please refer to a registered funding advisor earlier than taking any funding determination. Srinath Sridharan is a coverage researcher & company advisor.

Corus Frequently Asked Questions (FAQ)

  • When was Corus founded?

    Corus was founded in 1999.

  • Where is Corus's headquarters?

    Corus's headquarters is located at 30 Millbank, London.

  • What is Corus's latest funding round?

    Corus's latest funding round is Acq - P2P.

  • Who are the investors of Corus?

    Investors of Corus include Tata Steel.

Loading...

Loading...

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.