Thursday, October 19, 2006
Tata takeover not necessarily bad news for Port Talbot
It has just been reported that the board of Corus has accepted a takeover bid from Tata of India.
Tata Industries is a long-established conglomerate, founded in 1868 by a member of a Parsee family. It became rich on the basis of textile manufacture, but has since branched out into many industrial areas, from steel to motors and IT.
Indians are the third largest external investors (after Japanese and Americans) in UK business, and have a rather better record of maintaining facilities - especially research - here than some other nationals. If control of Corus has to leave Europe, India is probably a safer destination from the point of view of Welsh job security than Russia or even the United States.