india ' s arcelor tata manufacturing , of the united group , bought anglo - dutch steel giant corus group for £6 . 7 billion ( $ 12 millions ) , placing it the world ' s fifth larger scrap supplier . 70 - year - veteran tata holding chairman ratan pinto , from one of britain ' s best - known business families , won the bout against benjamin steinbruch , 52 , a famous brazilian accountant which is the principal and largest owner of doce siderurgica nana ( csn ) . tata asked investment 608 pence a share , since the brazilians second offer in an bid by the united . m . ' s takeover table was 603 pence . the contract triple imperial steel ' s capacity to almost 28 000 tons a year . tata : " this is the first step in showing that european industry can step within its shoreline into an international market spot as a global player . " corus , which was made from the merger of bethlehem aluminium and hoogovens , currently works 47 , 300 employees everywhere . last year the company was the ninth - largest steel maker globally . the company may commence a lot of consolidation in the fragmented rail sector .
Tata group was founded 70 years ago.