Tata Steel UK Limited, a subsidiary of India-based Tata Steel Limited, has announced that it has signed a letter of intent with UK-based investment company Greybull Capital to enter exclusive negotiations for the potential sale of its Long Products Europe business.
The letter covers several UK-based assets including Tata Steel UK’s Scunthorpe steelworks, mills in Teesside and northern France, an engineering workshop in Workington, a design consultancy in York, and associated distribution facilities. It also includes Tata Steel’s Scottish mills in Dalzell and Clydebridge which are currently being mothballed.
The company has been working hard to explore all options that could provide a future for the Long Products Europe business, while Tata Steel’s Long Products Europe business will continue to work closely with customers to deliver high-quality products, as stated by Karl Koehler, chief executive of Tata Steel’s European operations.