Founded in 1907, Tata Steel is the first private sector integrated steel company in Asia and the largest in India. In 2005/06, the company had a turnover of $5 billion and crude steel production of 5.3 million tonnes in India and South East Asia. It is a vertically integrated manufacturer and one of the most profitable and value-creating steel companies in the world. In 2005, Tata Steel acquired a 100% stake in NatSteel Asia in Singapore and in 2006 acquired majority control of Millennium Steel in Thailand, now Tata Steel Thailand. In the global steel industry, steel consumption decreased significantly in 2007 compared to 2006. Among major steel-producing countries, steel production increased between 2005 and 2006, with the exception of Brazil. China was the world's leading steel-producing country, with production of 355.8 million tonnes in 2005 and 418.8 million tonnes in 2006. And with this growing demand from the steel market, it was not possible for a single company to conquer the market. to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”? Get the original essay India was the world's third largest producer of steel in 2016. The steel sector has been a major contributor to Indian manufacturing output . India's crude steel production increased by 10.7 percent year-on-year to 25.76 million tonnes (MT) between January and March 2017. India's crude steel production in April 2017 increased by 5.4 percent year-on-year to 8,107 MT. exports increased by 102.1 percent to 8.24 tonnes, while imports fell by 36.6 percent to 7.42 tonnes in 2016-17. India's steel exports increased by 142 percent in April 2017 to 747,000 tonnes compared to April 2016, while imports fell by 23 percent to 504,000 tonnes in April 2017 compared to April 2016. Total consumption of finished steel increased by 3.4 percent year-on-year to 6,015 MT in April 2017. India is expected to overtake Japan to soon become the world's second largest steel producer and aims to reach 300 million tonnes of annual steel production by 2025-30. Timing is everything: in the early 2000s, the strategy team at Tata Steel, with a globalization perspective, had identified numerous potential M&A transactions in the United States, Europe and Asia. Corus was a penny stock in the early 2000s and was available for 10 percent of the value Tata Steel ultimately had to pay to acquire it. It is known that this period at Tata Steel was the transitional period between JJ Irani's rule and before B. Muthuraman took over, but there was no consensus on the globalization strategy. LN Mittal's acquisition of Arcelor in 2006 may have galvanized Tatas' intention to go global. But at that time, the commodity cycle was at its peak. And asset prices had soared. Know when to walk away: Tata Steel had signed a negotiated deal with Corus management. A few months later, the Brazilian steelmaker CSN entered with a higher offer. And the Corus board of directors proposed an auction. Today, participating in an auction is a very precarious situation. As the price only increases marginally, the impact is often difficult to gauge, and before you know it, you could end up scalding yourself. Regardless, insiders suggest that by then it had become a matter of prestige. Tata ultimately paid 30% more than the price initially negotiated in the initial signed agreement. Show me.