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Tata Steel’s re-branding of Scunthorpe goes on holdFebruary 16, 2012 - By Charlotte Stubben |
Work on re-branding the Scunthorpe steelworks under the Tata banner has been put on hold as part of an on-going cost-cutting campaign.
According to This is Scunthorpe, the temporary halt was called after it was revealed Tata Steel Europe had made a pre-tax loss of $147 million between October and December last year.
Tata bought the former Corus site in Scunthorpe in April 2007 but Tata waited until September 2010 to start the rebranding exercise.
The company’s European managing director and chief executive officer Karl-Ulrich Köhler, said: “As part of our Step Up and Save efforts, we are pausing the programme to rebrand our signage as soon as current installations are complete.”
“Whilst this won’t save money in the long term, it will retain much-needed cash flow.”
“De-branding the Corus name and logo at a minimum cost, however, can and should continue.”
“This means we will not complete the brand transition within the 18-month time-frame we set ourselves in September 2010, so not all signage will be replaced by the end of March as planned.”
Tata chiefs have promised to review the rebranding programme in August.
Tata bought the former Corus site in Scunthorpe in April 2007 but Tata waited until September 2010 to start the rebranding exercise.
The company’s European managing director and chief executive officer Karl-Ulrich Köhler, said: “As part of our Step Up and Save efforts, we are pausing the programme to rebrand our signage as soon as current installations are complete.”
“Whilst this won’t save money in the long term, it will retain much-needed cash flow.”
“De-branding the Corus name and logo at a minimum cost, however, can and should continue.”
“This means we will not complete the brand transition within the 18-month time-frame we set ourselves in September 2010, so not all signage will be replaced by the end of March as planned.”
Tata chiefs have promised to review the rebranding programme in August.
Source: This is Scunthorpe, Metal Supply
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