Established in 1907, Tata Steel is Asia's first integrated private sector steel company and India's largest. In 2005/06, the company reported sales of $5 billion and crude steel production of 5.3 million tonnes across India and Southeast Asia. It is a vertically integrated manufacturer and is one of the most profitable and value-creating steel companies in the world. In 2005, Tata Steel acquired 100% share capital of NatSteel Asia in Singapore and in 2006 acquired majority control of Millennium Steel in Thailand, now Tata Steel Thailand. In the global steel industry, steel consumption decreased dramatically in 2007, compared to 2006. Among major steel-producing countries, steel production has increased since 2005–2006, with the exception of Brazil. China was the country with the largest steel producer in the world, with a production of 355.8 million tons in 2005 and 418.8 million tons in 2006. And due to this growing demand of the steel market it was not possible for a single company to conquer the market alone. to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original Essay India was the third largest steel producer in the world in 2016. The steel sector has been a major contributor to India's manufacturing output. Crude steel production in India grew by 10.7% year-on-year to 25.76 million tonnes (MT) during January-March 2017. Crude steel production in India in April 2017 grew by 5 .4% YoY to 8,107 MT. exports increased by 102.1% to 8.24 tonnes, while imports decreased by 36.6% to 7.42 tonnes in 2016-17. India's steel exports increased 142% in April 2017 to 747,000 tonnes compared to April 2016, while imports fell 23% compared to April 2016 to 504,000 tonnes. Total finished steel consumption grew 3.4% year-on-year. 6,015 tonnes in April 2017. India is expected to overtake Japan to soon become the world's second largest steel producer and aims to achieve 300 million tonnes of annual steel production by 2025-30. Timing is everything: In the early 2000s, the strategy team at Tata Steel with the intent of globalization had identified many potential M&A deals from the US, Europe and Asia. Corus was a penny stock in the early 2000s and was available for 10% of the value Tata Steel eventually had to pay for it. It is known that this period of time in Tata Steel was the transition period between the reign of JJ Irani and before B. Muthuraman took over, but there was no consensus on the globalization strategy. LN Mittal's acquisition of Arcelor in 2006 may have galvanized Tatas' intention to go global. But by now the commodity cycle was at its peak. And asset prices had risen. Know when to walk away: Tata Steel had signed a negotiated agreement with Corus management. A few months later, Brazilian steelmaker CSN came forward with a higher offer. And the Corus board proposed an auction. Now, participating in an auction is a very precarious situation. Because the price only rises marginally, the impact is often difficult to gauge, and before you know it, you could end up getting burned. In any case, according to insiders, at that point it had become a question of prestige. Tata ultimately paid 30% more than the original price negotiated in the initial agreement signed. Show me the money: In hindsight, doing an all-cash deal financed by the.