Tata Steel sees volatile demand recovery in Europe
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Last Updated: Fri, Feb 10, 2012 11:18 hrs
Tata Steel, the world's No. 7 steelmaker, expects demand recovery in its key European market to be volatile and is targeting production next year at similar levels to the current fiscal year, a top official said.
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"Recovery in Europe will be very volatile. We are keeping our target at the current year's production level," Chief Financial Officer Koushik Chatterjee said in a conference call with analysts.
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The company, which operates two-thirds of its global capacity in Europe, reported on Thursday a net loss of 6.87 billion rupees for the December quarter, its first quarterly loss in more than two years.
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