Just covered by CNN Money ( http://money.cnn.com/2017/09/20/investing/thyssenkrupp-tata-steel-europe-merger/ )
They are trying to combat cheap Chinese imports, but how do you do this when the Chinese continue to heavily subsidize the steel industry over there.
http://money.cnn.com/2017/09/20/investing/thyssenkrupp-tata-steel-europe-merger/
Thyssenkrupp and Tata Steel announced plans to merge their European operations on Wednesday to create a new force in an industry that is under intense pressure from cheap Chinese exports.
Thyssenkrupp and Tata said their planned joint venture will be Europe's second-largest steel producer with annual revenues of almost $18 billion. It will be headquartered in Amsterdam with more than 40,000 employees.
"Even with the joint venture it will not be possible to avoid job cuts," Thyssenkrupp CEO Heinrich Hiesinger said in a statement, adding that as many as 4,000 jobs are likely to be axed in the coming years.