Tata Steel Nederland has decided to stop the operations of Tata Steel Istanbul Metal Industry (TSIM) in Turkey putting 90 jobs at risk.
Jan 25, 2024
Tata Steel Nederland has decided to halt operations of Tata Steel Istanbul Metal Industry (TSIM) in Turkey. Tata Steel Nederland owns TSIM and is part of the company’s Colors business unit which offers color-coated steel products mainly in the European and the Turkish market. TSIM’s colour coating line and service centre are situated in Adapazari, near Istanbul, with ninety employees. It started its operation in 2000.
“The impressive performance displayed by TSIM stands as a significant testament to Tata Steel’s confidence in Turkey. However, with TSIM’s high differentiation of its product and service portfolio in Colors, and considering the extreme market developments, sustaining its business model is no longer feasible,” explains Gunilla Saltin, Member of the Board of Tata Steel Nederland. “The decision to cease operations has not been taken lightly. It is with great regret that, following a detailed review of the business model and strategy, Tata Steel Nederland decided to cease operations at Adapazari. We emphasize the uninterrupted continuity of our sales and after-sales services in Turkey.”
Also Read: Vibhor Steel Tubes to Enhance Capacity to 3.41 Lakh Tonnes by Setting Up New Unit in Odisha
The decision will put ninety jobs at risk. Appropriate information processes with employees and their representatives will begin as soon as possible. Tata Steel will explore opportunities to help employees and provide assistance for them. Intensive effort will be made to help employees with new employment. Appropriate redundancy packages will be in place.
