Tata Steel finalises deal to save 4,400 British jobs
Tata Steel has completed a deal for the sale of its European long steel business, including the giant Scunthorpe plant, to investment firm Greybull Capital.
A number of bids made for British Steel
A number of bids have been made for British Steel following encouraging levels of interest in the sale of the business.
The company went into compulsory liquidation in May, but it continues to operate as normal and the Official Receiver’s focus remains on finding a buyer for the whole company.
Gerald Reichmann, British Steel’s CEO, said: “I am pleased to say there has been an encouraging level of interest in the sale of our business from a number of bidders.
“Due to the complicated nature of the group and its businesses, the evaluation and clarification of the offers received will take time. Further engagement with the interested parties and stakeholders will likely take a couple weeks before a further announcement on the sale process will be made.
“We remain committed to trying to secure the long-term future of the overall business, and we continue to trade and supply our customers as normal during this process.
“The British Steel Support Group, chaired by the Business Secretary, Greg Clark MP, and comprising local politicians, British Steel management, trade unions and sector representatives continues to meet regularly.
“We are incredibly grateful for the ongoing commitment and dedication of our colleagues who continue to produce record levels of our high-quality products for our valued customers during this process.”
British Steel www.britishsteel.co.uk
Company
Related Articles
Government commits to long-term plan for UK steel
Steelmakers have pressed the Business Secretary to commit the government to further reduce energy costs and ensure more UK made steel is used in major projects, when the steel council chaired by Sajid Javid met in London recently.
7 years ago
News
UK Steel publishes its Brexit blueprint for the Government
Industry trade body, UK Steel, has published a Brexit blueprint for the Government explaining what steps it needs to take to secure the future of the crisis-torn sector.
7 years ago
News
Most recent Articles
Hinkley Point C: £84m awarded for major electrical and instrumentation project
BGEN, one of the UK’s largest engineering firms driving the energy transition, has been awarded a £84m project by GE Steam Power Systems to provide electrical and instrumentation solutions to the Hinkley Point C nuclear power station in Somerset.
23 hours ago
News
Forterro appoints new VP of sales for northern Europe
Forterro, the European provider of ERP software solutions to the industrial market, has announced the appointment of Andrew Foster as its new vice president of sales for northern Europe.
1 day ago
News
Bruderer press purchased at MACH 2024
A specialist supplier to F1, automotive and aerospace sectors is looking to increase its tool try-out capacity by purchasing its first Bruderer press at MACH 2024.
2 days ago
News
