The Tata Steel group - comprising Tata Steel and Corus Group, the European steel maker it acquired in January on Wednesday took decisive steps towards integration by setting up a new organisation structure that will become effective January 1, 2008.
The board of directors of Tata Steel, which met on Friday, appointed Jim Leng, chairman, Corus, as a non-executive independent director designated as deputy chairman.
Corus Group Plc, on Wednesday reported a nearly three-fold jump in profit for the third quarter ended September, said it was awaiting a final offer from Brazil's CSN.
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