Challenges Faced by Tata Steel's UK Operations

Tata Steel faced challenges after acquiring KORUS, which later became Tata Steel Europe, resulting in significant losses. The UK Steel plant had to shut down blast furnaces and lay off employees due to high maintenance costs and declining efficiency. The global financial crisis exacerbated the situation, with a 21% drop in global demand for steel impacting Tata Steel. Cheap Chinese steel imports and Brexit further intensified challenges, leading to the consideration of transitioning to electric arc furnaces.