Tata Steel of the Tata group of companies owned by Ratan Tata made its debuts on Fortune 500 list. It entered the Fortune 500 list at rank 315.
The entry of Tata Steel in the Fortune 500 list is mainly due to the acquisition of the Anglo-Dutch steelmaker Corus. The acquisition took place in October 2006.
The companies qualify for the Fortune 500 list on the basis of their revenues. The rankings are based on 2007 audited revenues.
Tata Steel had an annual revenue of $25,707 million.Tata Steel achieved this figure by way of consolidation of Corus’ revenues with its balance sheet.
Cheers to Tata Steel !!
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