Tata Steel Europe News

The European Union has imposed provisional import duties of as much as 28.5 percent on certain Chinese corrosion-resistant steels after an eight-month investigation found that the products benefited from unfair subsidies.

All seven have been "immediately taken forward" to the next stage of the sale process, which involves inputs from the UK government, the firm said in a statement.

Tata Steel Europe said on Monday it had asked Standard Chartered to work as an adviser alongside KPMG to look for interested buyers. The bank has links with Tata Group in India and is expected to be tasked with finding possible suitors in Asia, especially among Chinese steel producers.

Koehler, who was appointed as CEO and Managing Director of Tata Steel Europe in October 1, 2010, will also step down as the member of the Tata Steel's Board of Directors.

Tata Steel is in talks with investment firm Greybull Capital to sell its struggling Long Products Europe business in the UK, the Indian steel giant said Tuesday.  

Tata Steel Thursday said it is likely to write down a total of Rs 6,500 crore for the 2014-15 fiscal mainly due to impairment of a unit in the UK, a part of its European operations and a coal project in Mozambique.