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6 months ago
BRIEF-Tata Steel signs deal with Liberty House Group for sale of speciality steels business
February 9, 2017 / 12:14 PM / 6 months ago

BRIEF-Tata Steel signs deal with Liberty House Group for sale of speciality steels business

Feb 9 (Reuters) - Tata Steel Ltd

* Tata Steel signs definitive agreement with Liberty House Group for the sale of its speciality steels business

* Deal for total consideration of 100 million pounds

* Says speciality steels direclty employs about 1700 people

* Says agreement covers several south Yorkshire based assets

* Says parties will also be working to complete consultation with employees, transfer of supplier and customer contracts

* Tata Steel UK is currently consulting with employees on number of proposals that would structurally reduce risks

* Says also in discussion with UK steel pension scheme trustee

* Says co's strip products business will continue to employ almost 9,000 people in UK

* Co continues to support its UK business and its process of transformation to create a sustainable future for its UK strip products business

* Says investments ongoing to improve manufacturing capability, enabling production of premium steels in Shotton, Llanwern, Trostre and Orb in Newport Source text - (bit.ly/2lugm3U) Further company coverage:

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