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Tata Steel UK sells its Specialty Steels business to Liberty House for £100 million

#TataSteel UK sells its Specialty Steels business to #LibertyHouse for £100 million

Tata Steel UK has completed the sale of its Specialty Steels business to Liberty House Group for a total consideration of £100 million.

The sale covers several South Yorkshire-based assets including the electric arc steel works and bar mill at Rotherham, the steel purifying facility in Stocksbridge and a mill in Brinsworth as well as service centres in Bolton and Wednesbury, UK, and in Suzhou and…

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Tata Steel agrees to sell speciality steel business to Liberty House

Business

Tata Steel agrees to sell speciality steel business to Liberty House

Tata Steel has signed an agreement to sell its speciality steel business employing 1,700 people for £100m. The deal covers South Yorkshire based operations, which make steel for aerospace, car and oil and gas businesses. It comes after Tata signed a "letter of intent" on the sale of the business in November.

This is an important step forward in securing a future for the business under new ownership

Bimlendra Jha, chief executive of Tata Steel UK

Bimlendra Jha, chief executive of Tata Steel UK, said: "This is an important step forward in securing a future for the business under new ownership." It follows months of uncertainty after the Indian-owned giant put up its UK business for sale earlier this year. The speciality steels business includes units at Rotherham, Stocksbridge and Brimsworth in South Yorkshire, plus service centres in Bolton and at Wednesbury in the West Midlands.

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