Liberty House mulls acquisition of Tata Steel UK plants in Scotland

Monday, 18 January 2016 15:07:15 (GMT+3)   |   Istanbul
       

The international steel and minerals group Liberty House has confirmed its interest in buying the Clydebridge and Dalzell steel works in Scotland of Tata Steel UK, subsidiary of India-based Tata Steel Limited, as the Scottish government's steel taskforce prepares to meet to discuss the future of the plants, which will support 270 jobs.

In a statement to media sources, Liberty House said that it wants to retain skills, jobs and continue production at the two Scottish mills, though adding that discussions were ongoing but nothing had been finalized.

Scotland’s business minister Fergus Ewing stated that he met Liberty House management to outline the potential support available from the Scottish government and Scotland's main economic development agency Scottish Enterprise should it succeed in a buyout. Mr. Ewing said that, while nothing is yet agreed, there is a degree of optimism. He also added that, to help a new operator restart operations, the Scottish government has also invested £195,000 in a plan to keep key workers on standby to minimize the time the plants are mothballed and to safeguard full manufacturing capability.

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