Tata Steel's track record made Corus deal possible

JAMSHEDPUR: Tata Steel's encouraging track record and management expertise were among the factors that made the deal with Corus possible, a British MP said on Friday.

Several factors including Tata Steel's management expertise, its performance in financial, social and other sectors were taken into account before approving the deal, Elliot Morley, MP for Scunthorpe, where Corus is based, said.

The Corus management was looking for a partnership rather than a takeover on the lines of Mittal-Arcelor and even had discussions with Brazilian and Russian firms, he said.

Jamshedpur and Scunthorpe, he said, had similarities as both the steel towns were witnessing industrial development.

Asked about the mood of people in the UK following the deal, he said employees were a little apprehensive about their future and it was his priority to look after their interests.

Morly was in the steel city to take part in an inter-city school debate organised by Association of British Scholars.