100th Annual Report 2006-2007 - Tata Steel

Corus is British Triathlon’s main sponsor.
contribute to the well-being of residents, both in the immediate
vicinity of its plants and elsewhere.
Triathlon sponsorship
Corus Kids of Steel is a UK wide initiative to bring Corus’
sponsorship of the Triathlon to the communities in which
it operates. Corus Kids of Steel is a series of events designed
to give children the chance to have a go at a triathlon
in a safe, fun and non-competitive environment whilst
encouraging activity and learning about healthy lifestyles.
Corus employees are involved in triathlon by volunteering for
events, encouraging local schools to become involved and
helping to set up new local children’s triathlon clubs. Over 5,000
children will take part in the first series, with this number set to
grow in 2008.
Supporting local education
In addition to donations, Corus supports the educational
development of its communities. Its primary purpose is to
encourage interest in, and enthusiasm for, the study of materials
science and its application.
Corus’ people are its ambassadors and it is their individual
and collective efforts that continue to build and maintain the
company’s reputation.
Tata Steel and Corus: a compelling vision in steel
Corus’ strategy is focused on carbon steel with a growing focus
on value-added, differentiated products to further develop
a strong and sustainable competitive position in its Western
European markets. Beyond “Restoring Success”, Corus has
launched “The Corus Way”, based on the principles of:
• Best supplier to best customers
• World-class processes
• Selective growth
Corus has increased capital expenditure to support the ambition
of increasing the proportion of differentiated products sales
and operational efficiency of its existing asset base in Western
Europe. Two major investments in support of this are underway,
namely:
• Rs. 1,108 crores (£130million) investment at Scunthorpe in the
UK to improve Corus’ competitive position in the structural
sections for the construction market, rail, and wire rod for the
automotive markets is on track to be completed by the mid
2007.
• 4-year, Rs.1,304 crores (£153million) investment at IJmuiden,
in the Netherlands, in a new galvanising line and cold mill
at our lowest cost site, is also on track. This investment
is designed to reinforce our existing market position in
the automotive and construction markets, including the
development of new advanced high strength steels.
On April 2, 2007, Corus became a subsidiary of Tata Steel,
creating the world’s sixth largest steel company and securing a
global presence with access to low-cost steelmaking and highgrowth
markets.
The combination of Tata Steel and Corus will enable Corus
to move towards the next level of strategic transformation
through access to low cost steel production and high growth
markets in Asia. The transaction creates the sixth largest steel
producer in the world and Corus can now grow and compete
on a global scale, whilst still pursuing its existing plans for
Western Europe. Both companies also share a set of common,
core values and the same approach to business performance.
A similar commitment to continuous improvement augurs well
for the future of the enlarged Group.
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