Sale of long products division to Greybull Capital saves Scunthorpe steelworks,two Teesside mills plus other facilities and will revive British Steel brandTata Steel has agreed the sale of its UK long products business to investment group Greybull Capital for £1 in a deal that will revive the British Steel brand and could save 4400 jobs.
The deal will support open a steelworks in Scunthorpe, two mills in Teesside, and an engineering workshop in Workington,a design consultancy in York, and associated distribution facilities, and as well as a mill in northern France.
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Source: theguardian.com