Corus Strip Products to raise base prices for quarterly contracts in mainland Europe
21 May 2008
"Given tight market conditions and extreme cost increases for raw materials, Corus Strip Products announces an increase in its base prices for Quarterly contracts in Mainland Europe by a minimum of 130 euros per tonne, with effect from 1st July 2008."
"At the same time Corus Strip will enter into discussions with its customers to discuss the consequences of the extreme cost increases in relation to current annual contracts."
Corus is Europe's second largest steel producer with annual revenues of over £11 billion and a crude steel production of about 20 million tonnes. With main steelmaking operations primarily in the UK and the Netherlands, Corus provides innovative solutions to the construction, automotive, packaging, mechanical engineering and other markets worldwide. Corus is a subsidiary of Tata Steel, the world's sixth largest steel producer. With the recent acquisition of Corus, the combined enterprise has an aggregate crude steel production capacity of around 28 million tonnes and over 82,000 employees across four continents.
Ends
For further information, please call:
Annanya Sarin, Corporate Relations Tel. +44 (0) 20 7717 4532
