Natarajan Chandrasekaran, Chairman of Tata Steel, said: "The joint venture will create a strong pan European steel company that is structurally robust and competitive. This is a significant milestone for Tata Steel and we remain fully committed to the long-term interest of the joint venture company. We are confident that this company will create value for all stakeholders."

Dr. Heinrich Hiesinger, CEO of thyssenkrupp AG, commented: "We will create a highly competitive European steel player - based on a strong industrial logic and strategic rationale. We will secure jobs and contribute to maintaining value chains in European core industries."

Until completion of the JV process, thyssenkrupp Steel Europe and Tata Steel in Europe still operate as separate companies and as competitors. Only after completion of the JV process, thyssenkrupp Steel Europe and Tata Steel in Europe will be integrated as one company.

END