Tata Steel UK to sell speciality unit to Liberty House for £100 mn

Since Tata Steel has made the Corus buyout in 2007, the firm has been witnessing financial strain

Tata Steel UK has signed an agreement to sell its speciality steel unit to Liberty House Group for £100 million.

In a notification to the stock exchanges, Tata Steel said the agreement covered several South Yorkshire-based assets. These included electric arc steelworks and a bar mill at Rotherham, a steel purifying facility in Stockbridge and a mill in Brinsworth, along with service centres in several parts of the world, including China. The unit employs 1,700 people and caters to the aerospace, automotive and oil & gas industries.

“We will be handing over a business which has been transformed, following difficult