100th Annual Report 2006-2007 - Tata Steel

International Operations
Corus is Europe’s second largest steel producer with annual
revenues of Rs. 82,674 crores (£9.7 billion) and crude steel
production of 18.3 million tonnes in 2006. Corus has a presence
in nearly 50 countries, including its global network of offices
and service centres.
Corus’ shares were listed (de-listed post the acquisition) on the
London, New York and Amsterdam Stock Exchanges until the
acquisition of Corus Group plc by Tata Steel in April 2007.
Corus was formed on October 6, 1999 following the merger of
Koninklijke Hoogovens and British Steel. Philippe Varin who was
appointed as Chief Executive of Corus in May 2003 launched
the “Restoring Success” programme, designed to deliver a
Rs. 5,796 crores (£680 million) EBITDA improvement in Corus’
financial performance. This programme, completed at the
end of 2006, has underpinned the significant improvement in
Corus’ financial performance, delivering savings through cost
reductions and improved operational efficiency. It has also
delivered significant improvements in safety performance and
customer service levels.
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Corus’ operations at IJmuiden in the
Netherlands, one of Europe’s largest and
most efficient steel making sites