Tata Steel UK, an indirect subsidiary company of Tata Steel Europe, which is a wholly owned subsidiary of Tata Steel, has signed a letter of intent with Greybull Capital to enter exclusive negotiations for the potential sale of its Long Products Europe business. The letter covers several UK-based assets including Tata Steel UK’s Scunthorpe steelworks, mills in Teesside and northern France, an engineering workshop in Workington, a design consultancy in York, and associated distribution facilities. It also includes Tata Steel’s Scottish mills in Dalzell and Clydebridge which are currently being mothballed.
Tata Steel, the flagship company of the Tata group is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 Company.
