Evaluate the history of the emergence of TISCO.
Answers
Answer:
Tata Iron and Steel Company (TISCO) was founded by Jamsetji Tata and established by Dorabji Tata on 26 August 1907. TISCO started pig iron production in 1911 and began producing steel in 1912 as a branch of Jamsetji's Tata Group. The first steel ingot was manufactured on 16 February 1912.
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Explanation:
1907: Tata Iron & Steel Co Ltd established by Jamsetji Tata.
1911: Blast Furnace operation at Sachi begins.
1912: Jamsetji Tata's plant produces its first steel ingot.
1912: 8 hour day introduced to maintain employee well-being.
1920: Leave-with-pay introduced. This practice was rare pre-1940s.
1924: Tata close to closure as a result of 1920s Depression.
1951: Modernisation plan launch - with Kaiser Engineering support.
1971: Government attempt to nationalize Tata Iron and Steel Company fails.
1987: Collaboration started with Timken in bearings production.
1996: JV with Inland International - creation of Tata Ryerson.
2001: Announces closure of steelmaking in Llanwern, South Wales.
2004: Acquisition of Singapore based NatSteel for ~$486m.
2004: Creation [with SAIL] of the mjunction online trading platform.
2005: Acquisition of 40% stake in Thailand's Millennium Steel.
2005: Tata Iron and Steel Company changes its name to Tata Steel.
2005: MoU signed for 5mt integrated plant at Jagdishpur.
2007: Tata Steel wins bid for Corus against Brazil's CSN.
2007: Acquisition of controlling stake in 2 Vietnamese rolling mills.
2010: Partial mothballing begins at Tata's TCP plant at Teesside.
2011: Tata Steel's Teesside Cast Products (TCP) plant sold to SSI.
2011: Llanwern hot strip mill in the UK temporarily mothballed.
2012: Blast furnace relit at former Corus Redcar steel plant.
2012: Rebuild commences of blast furnace No 4 in Port Talbot, UK.
2012: Retirement of Ratan Tata - Cyrus Mistry is new Chairman.
2013: Tata Steel Europe reports record GBP 1.2 bn loss.
2014: Plan announced to increase capacity 60% to 16 mt by 2020.
2015: Announces closure of hot strip mill at Llanwern, South Wales.
2015: Closes Scunthorpe plate mill & Dawes Lane coke plant.
2015: Discusses sale of European long product business with Greybull.
2016: Announces 700 job losses at Port Talbot in South Wales.
2016: Sells UK long products business to Greybull Capital for £1.
2016: Much discussion about sale of Port Talbot steel works in Wales.
2016: British Steel pension deficit of ~GBP £700m identified.
2016: Thyssen discussions held mid-year on merger of European assets.
2016: Chairman Cyrus Mistry sacked in October - replaced by Ratan Tata.
2017: Completes sale of UK speciality steels units to Liberty House.
2017: Sells UK tube mills in Hartlepool to Liberty House Group.
2017: Tata Steel gets regulatory approval for UK pension deal.
2018: Acquires debt-ridden Bhushan Power and Steel (India).
2018: Brussels examines European merger plan with ThyssenKrupp Stahl.
2019: Abandons proposed corporate tie-up with ThyssenKrupp.