Tata Steel Sells Specialty Steels Business
Tata Steel UK signed a definitive agreement to sell its Specialty Steels business to Liberty House Group for approximately $124.5 million. The agreement covers the electric-arc steelworks and bar mill at Rotherham, the steel purifying facility in Stocksbridge and a mill in Brinsworth. It also includes service centers in Bolton and Wednesbury (U.K.) and in Suzhou and Xi’an, China. The Specialty Steels business employs about 1,700 people and makes steels for the oil and gas, aerospace and automotive industries.