Tata Steel Sells Long Products Europe Business
Tata Steel UK Ltd. agreed to sell its Long Products Europe business to investment firm Greybull Capital. The deal covers the Scunthorpe steelworks, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, and associated distribution facilities, as well as a mill in northeast France. Scunthorpe produces steel mainly used in construction and infrastructure projects. The Long Products Europe business employs 4,800 people (4,400 in the U.K. and 400 in France). The agreement is an important milestone on the road toward continuing steelmaking in Scunthorpe and steel processing in other locations in the U.K. and France.