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Corus Group - 2007

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Corus Group
In France
Beniamin SMOLIJ
Sandor ERDEI
Kitty LIANG
Ga-Eun OH
Best In France
Mon, 10 Dec 2007
Prof. Michael SEGALLA
Executive Overview
в– Introduction
в– History of Corus & recent acquisition
в– Steel Market
в– Corus in France
Introduction
в– Corus Group
пЃ®
в– Aerospace, engineering, automotive, packaging,
construction, energy & power generation, consumer
products, rail
Corus French subsidiary
пЃ®
provides a range of rail products and railway
infrastructure services to the international rail
industry
Corus Group
Financial Performance
Sogerail
в– в– в– в– в– A subsidiary of the Usinor group(French
company)
Employees : about 430
Products: rail products
Location : at Hayange in the Lorraine region of
France.
Turnover : 170 million euros
(March 1999 Recorded)
Birth of Corus Group
в– в– в– British Steel acquired Sogerail on 2nd October 1999
British Steel merged with the Dutch steel producer
Koninklijke Hoogovens to form Corus Group on 6
October 1999
After this merger, conflicts led bad performance
пЃ®
пЃ®
в– In 2001, operating loss touched пїЎ1.152 billion
In 2002, losses stood at пїЎ458 million
In 2003, new CEO, Philippe Varin implemented
�Restoring Success’ program
пЃ®
пЃ®
cost savings touched пїЎ680 million in 42 months,
employee productivity rose by 5% in 2005
Acquisition by Tata Steel
в– в– в– в– в– In Oct 2006, the board of Corus decided to
accept Tata’s proposal to acquire
Brazilian steel company CSN announced to
participate in acquiring Corus Group
The price was getting increased due to
competition
Tata Steel acquired Corus Group at 608p per
share in April 2007
Tata Steel Group consists of Tata Steel & Corus
Group Ltd
History of Corus Group
British
Steel Sogerail
British Steel
Koninklijke
Hoogevens
N.V..(Dutch)
Corus
Tata
Steel
Corus
2006 Global Steel Industry
After the acquisition
World Steel Consumption
600
Million Tons
500
400
300
200
100
0
1,997 1,998 1,999 2,000 2,001 2,002 2,003 2,004 2,005 2,006 2,007 2,008 2,009 2,010
EU-25
143
152
152
159
156
155
158
160
160
167
169
173
177
183
USA
108
116
111
115
102
103
101
116
104
110
111
113
115
117
JAPAN
82
70
69
76
73
72
73
77
78
81
81
81
82
83
CHINA
103
110
123
125
154
186
233
270
315
356
403
443
470
489
MIDDLE EAST
16
17
17
20
23
25
30
31
35
37
40
44
46
48
Sogerail
British
Steel
Entering the French Market
в– в– Rail is a steel niche market
Access to European market through France.
пЃ®
пЃ®
Know-how
Transport, logistics
Personnel Merge in France
в– в– в– в– в– Commercial unit moves to new French base
10 French employees laid off
30 British employees moved to France
British Nationals: 30
French Nationals: 20
Differences in style emerge
в– в– в– Centralization
Limited autonomy
Bureaucracy
Cultural differences
English
в– Meetings:
пЃ®
пЃ®
пЃ®
в– в– The boss speaks only
to immediate
subordinates
Language
пЃ®
в– Highly organized
Nice presentations
Less decisions
Contacts
пЃ®
French
Bonjour, Merci..
Meetings:
пЃ®
пЃ®
пЃ®
в– Contacts
пЃ®
в– Less organized
More discussions
Faster decisions
The boss speaks to
every employee
Language:
пЃ®
High expectations of
English proficiency
Corus rail today
в– в– в– Only 5 British employees remained from the
original 30
These 5 settled down in France
The British and the French couldn’t work
together in long-term
Negative effects of the merger
в– в– British tried to launch new products with their
model, ignoring the French objections
Mr. Dabas and 3 other French managers left the
company
Positive effects of the merger
в– в– More control than before the merger
less accidents, the factory is safer for the
workers
Merger with Tata
Merger with Tata
в– в– в– We do not know the results of the Tata takeover
Mr. Dabas thinks: Tata doesn’t even know that
Corusrail exists
Tata is too far from France
“Test of interests of Tata”
в– в– в– в– Corusrail will ask at the end of 2007 for
investment
Increase Rail length 80
108
Competitors have 120, but 108 can easier
transported
Mr. Dabas advice: sell off Corus Rail
Conclusion
в– в– в– в– Give confidence to the former employee
Don’t control everything
Send people who know French culture or at
least are interested in it
If the objectives are not met than discuss
We Thank
в– Mr. Gerard Glas CEO
в– Mr. Hubert Dabas Commercial Manager
в– Ms. Laure Lafare Andministrative Assistant
Thank you for your attention!
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