Agreement Of Tata Steel
The proposal on pensions and other changes to employment conditions is part of the company`s ongoing transformation plan. As part of today`s agreement, all parties will strive to make Tata Steel UK a sustainable business. Mr. Suresh Dutt Tripathi, Vice-President (HRM), Mr. Sandeep Dhir, Chief HRM Steel, Mr. Zubin Palia, Chief Group IR, Mr. R Ravi Prasad, President TWU, Mr. Satish Kumar Singh, Secretary General, TWU, Mr. Arvind Kumar Pandey, Dy. President TWU signed the agreement on behalf of management and the Union in Jamshedpur, respectively, on 28 June 2018. Tata Steel Tata Steel Group is one of the world`s leading steel companies, with an annual crude steel capacity of 27 million tonnes (MTPA) as of March 31, 2018. It is the world`s second largest geographically diversified steel producer, with operations in 26 countries and a commercial presence in more than 50 countries. In FY18, the group generated consolidated revenues of $20.41 billion ($133,016).
The Tata Steel Group is spread over five continents and employs nearly 74,000 people. Tata Steel retained the industry position in fiscal year 18 and took second place in the DJSI 2017 rating. The company was named Leader by CDP (2017) in the “Climate Opening” category in the “Steel” category. In addition to joining the World Steel Climate Action Programme, Tata Steel has received several awards, including the Prime Minister`s Trophy for the best performing integrated steelworks for 2014-15 and 2015-16, CNBC TV18`s best risk management (2018) and Mint`s Corporate Strategy Award (2018). The company also received for the sixth time (2018) the “Most Ethical Company” award from the Ethisphere Institute, Steel Sustainability Champions (2017) from the World Steel Association, Dun -Bradstreet Corporate Awards (2017 – 2018), the Golden Peacock HR Excellence Award from the Institute of Directors (2017) and the Asia`s Best Integrated Report Award from the Asia Sustainability Reporting Awards (2017), among others. Tata Steel is the UK`s largest steel producer. It supplies nearly 50% of the steel needs of British car manufacturers, including body panels and chassis, as well as a series of state-of-the-art steels for the British construction industry, which help reduce the energy consumption of buildings. In addition, the employment pact, which contains employment maintenance agreements, has been extended by five years, until 1 October 2026,” he said.