Message from the CEO

The crossroads

“In the last year TSN has started to fundamentally change the way it operates to be ready for the Green Steel Project."

2026 will be a defining year for Tata Steel Nederland. A year in which we plan to take decisive steps and shape a shared future. For the 30,000 people in the Tata Steel ecosystem in the IJmond region, for the Netherlands, and for Europe. This year, we aim to sign the Tailor-Made Agreement with the Dutch government that will allow us to embark on the next steps of the Green Steel Project: the best route to safeguarding sustainable steel production in the Netherlands. A transformation that we are already working hard on to achieve.

In the past year, market conditions have been challenging for our steel production, with high tariffs on our exports to the US, a high volume of imports into the EU out of Asia, relatively high energy prices and consequently low margins. Despite, or maybe because of this, steel is higher on the (geo)political agenda than ever. As a strategic product, it forms the backbone of infrastructure, energy systems, technology, the European industrial heartland and national security. In a world where international dynamics are shifting rapidly and markets are distorted, Europe’s strategic autonomy and security are essential. With the Green Steel Project, high‑quality, cleaner and reliable European steel will continue to be produced in the Netherlands.

The early 2026 coalition agreement of the Dutch government underscores the importance of strategic autonomy, in addition to measures addressing energy costs, CO₂ pricing and grid congestion. Europe is also acting decisively: the Carbon Border Adjustment Mechanism, tightened steel quotas, and Made‑in/with‑Europe policies are restoring the level playing field and market conditions needed for Tata Steel Nederland to thrive.

Against this backdrop, the Dutch government, the Dutch TSN Board, the Province of Noord Holland and our parent company Tata Steel Limited have joined forces and underwrote the Green Steel Project through a joint letter of intent which is intended to lead up to the Tailor-Made Agreement.

With a clear goal: to keep steel production in the Netherlands while fundamentally transforming it.

Cleaner, greener and more circular. Steel that remains available to Dutch and European people and industries in the decades ahead. It is a project that prioritises health improving measures, significantly reducing emissions and optimising the operational process.

This multi-billion euro transformation is strategically critical. Thousands of people are working every day to make it happen and to reduce our environmental footprint. Their determination is clear: this project must succeed. Thankfully, we see broad support for the Green Steel Project from regional communities, national politicians and the European Commission. In 2026, a final confirmation in the form of the Tailor-Made Agreement must secure this joint effort. And with it, the future of tens of thousands of people.

To capitalise on the changing market conditions and deliver the Green Steel Project, TSN is building a new organisation, in fact also transforming it. With a sharper product‑market focus, an improved product mix, and higher delivery reliability, we are improving competitiveness. Our ambition is clear: to be among the top three most profitable steel companies in Europe.

But our transformation is about more than technology and products. It is also about a new way of working and a culture of ownership. 

With our restructuring programme SCALE – our focus on Sustainability, Cost‑efficiency, Agility, Leadership and Execution – we are creating an organisation that moves faster, collaborates better, and delivers the results needed, also for the communities near our factories.

In the coming years, and as part of the Green Steel Project, we will continue our efforts to make the site cleaner and greener.

While we are committed to a sustainable future, we have to deal with reality of today. Not everybody is supportive for continued steel production in this region, in the Netherlands. Some choose legal routes. And the regulators fulfil their roles with increasing demands. Also here, we strongly believe, our Green Steel Project in essence is the answer.
The closure of our Cokes and Gas plants has been in the news recently. It has always been part of our Green Steel Project, but we are exploring the possibility of closing our coke and gas plants (CGP 1 and 2) sooner than previously anticipated. The technical and logistical complexity of such a step is significant, particularly given the need to responsibly safeguard environmental and safety considerations and the continuity of our operations. In assessing the possibilities for an early closure, we therefore take into account the interest of all stakeholders involved, and especially also the interests of our own employees.

“TSN is building a new organisation. With a sharper product‑market focus, an improved product mix, and higher delivery reliability, we are improving competitiveness.”

In view of the uncertainty on closure timelines, TSN’s financial statements are prepared with a material uncertainty regarding our continuity, as extensively disclosed in our financial statements. Concurrently, as we also acknowledge that a steel plant will inherently always have emissions, we are stepping up our engagement with local communities.

In 2025, we also started building a new Risk & Compliance team to further strengthen our processes; we renewed our HSE organisation to enable the highest focus on measurement quality, monitoring systems and reduction of emissions; and we enhanced how we manage environmental challenges, including substances of very high concern and steel slag, with strong governance, consistent methodologies and improvement programmes. TSN’s blast furnace–basic oxygen route ranks among the more energy efficient globally, with low coal use and CO₂ emissions per ton. Bolstered by these results, we are accelerating this effort, continuing investments, with clear and ambitious goals to further reduce emissions. Responsible transformation of our production processes is the only way forward. It is an integral part of the Green Steel Project.

At the same time, as the Board of Management of TSN, we fully recognise that the ongoing restructuring of our organisation as part of this transformation will have a significant impact on our employees.

The necessary transformation to a new organisation that is more effective, functional, centralised and with fewer management layers, asks a lot from our colleagues.

Some will be matched on different or new positions in the company, others may have to leave, and we understand the worries of employees and their families. Throughout 2026, we will therefore continue to work closely with our employees and their representation to navigate this path together.

Our community and people – steelmakers, technicians, specialists, operators, planners, innovators – form the heart of our success. Their commitment, pride and perseverance make the transformation to more sustainable steelmaking possible. For that, they deserve a warm ‘thank you’. Together, we will make the Green Steel Project a historic success.

I would also like to thank our customers, partners, local communities and government stakeholders for their continued trust and collaboration.

Together, we are building a cleaner, stronger and reinvigorated steel industry in the Netherlands. 2026 will be the year in which we aim to secure that future. The defining year.

Hans van den Berg

Chief Executive Officer and Chair of the Board of Management

Tata Steel Nederland