24 Mar 2016 | Corporate News
Tata Steel UK today announced it has reached an agreement to sell its Clydebridge and Dalzell steel facilities in Scotland.
The deal involves the sale of the two plants to the Scottish Government which would then sell them on to Liberty House.
The agreement follows Tata Steel’s announcement in October 2015 that it would stop its European plate production, which led to the mothballing of the Dalzell and Clydebridge plants at the end of 2015. Rather than closing the facilities, Tata Steel has continued to maintain them to enable plate production to potentially restart in the future.
Bimlendra Jha, Executive Chairman of Tata Steel’s Long Products Europe business, said: “We welcome this deal which opens the possibility of a resumption of steel processing in Scotland.
“This has been achieved with the determination and support of employees, trade unions and the Scottish Government all working together.”
The Dalzell plate mill transforms a semi-finished steel slab into a steel plate, while the Clydebridge facility processes steel plate using a quench and tempering technique.
Today’s agreement secures the two Scottish plants while Tata Steel continues to negotiate the potential sale of the rest of its Long Products Europe business to Greybull Capital.
For further information contact:
Tata Steel’s press office on : +44 (0)203 8176 693, or Enda Joyce on +44(0) 7980 916827 or Keri Sutherland on +44(0) 7581 277970.