19 April 2016 Current Affairs: Tata Steel Europe has announced the appointment of Bimlendra Jha, its executive committee member, as the CEO of Tata Steel UK to expedite the sale of its loss-making business in that country.
He is a executive chairman of Tata Steel Europe’s Long Products Europe business had led the divestment process that resulted in the signing of a sale and purchase agreement with Greybull Capital on April 11, 2016, for a transaction value of 1 pound.He will be supported by a team of executives drawn across functions including operations, procurement, finance, human resources and commercial.
Tata Steel Limited : Tata Steel Limited (formerly Tata Iron and Steel Company Limited (TISCO)) is an Indian multinational steel-making company headquartered in Mumbai, Maharashtra, India, and a subsidiary of the Tata Group.Tata Steel has manufacturing operations in 26 countries.It was ranked 486th in the 2014 Fortune Global 500 ranking of the world's biggest corporations.It was the seventh most valuable Indian brand of 2013 as per Brand Finance.
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