In slow-growing markets, consolidate to be structurally stronger, not structurally bigger

The European market is growing at 1-1.5% a year. We just want to have significant relevant size. As of now, the intention is to make the [ThyssenKrupp and Tata Steel] joint venture work, and make it profitable and sustainable. This market is not a growth market where you build capacity. It is a market where you will try to look at ways to make yourself structurally stronger so that you can be one of the last men standing.”
T.V. Narendran, Global CEO, Tata Steel

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