steel industry

Tata Steel Sells UK Scunthorpe Plant to Greybull Capital

By Guy Faulconbridge and Sarah Young LONDON, April 11 – India’s Tata Steel agreed to sell part of its British business to investment firm Greybull Capital on Monday, preventing thousands of job losses, and freeing it up to focus on the sale of its other big plant, in Wales. The British government has been under

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Tata Steel UK Suitor to Start Due Diligence in Around 10 Days

By Promit Mukherjee and Krishna N. Das MUMBAI, April 7 – Liberty House Group will start due diligence within a week from Monday on the loss-making UK assets that Tata Steel has put up for sale, its boss Sanjeev Gupta said, adding he was confident of turning the business around with government help. Tata, Britain’s

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British Government to Meet Potential Buyer for Tata Steel UK

By Kate Holton and Susanna Twidale LONDON, April 5 – The British government opened talks on Tuesday with potential buyers for Tata Steel’s UK operations, including Sanjeev Gupta’s commodities company Liberty Group, as it stepped up its battle to find a buyer for the loss-making business. Accused by opposition lawmakers of being “asleep at the

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Britain Says Government Contracts Must Consider Local Steel Firms

LONDON, April 3 – Britain said on Sunday that all public sector contracts that involve steel supplies must specifically consider UK steel companies as part of plans to find a long-term solution for the country’s steel industry. The government is looking for ways to support domestic steel producers after India’s Tata Steel put its British

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Tata’s UK Steel Exit Raises Expectations of European Mergers

By Georgina Prodhan FRANKFURT, March 31 – Tata Steel’s plan to sell its British steelmaking business has raised expectations of a long-awaited consolidation in the European steel sector, which is suffering from years of unaddressed overcapacity. Since the multi-billion-euro takeovers of Europe’s Arcelor and Corus by Indian giants Mittal andTata in 2006 and 2007, dealmaking

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Britain’s Cameron to Chair Meeting on Steel Industry Crisis

LONDON, March 31 – British Prime Minister David Cameron will hold an emergency meeting to tackle the crisis hitting the country’s steel industry on Thursday after India’s TataSteel said it would pull out, putting thousands of jobs at risk. The government is facing criticism over its response to the news, with opposition lawmakers saying it

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