Restructuring to hit Rotherham-based bar business
Tata Steel Europe announced the next stage in its plans to refocus its speciality and bar business on high value markets such as aerospace. The proposed change would result in reduction in employee numbers, mainly at its Rotherham-based bar business. This has been underperforming in the face of commodity-grade steel being imported to the UK due to strong pound and high electricity costs which are more than double those of Key European competitors. Tata Steel Europe has identified 720 positions which will potentially become redundant.The Company has invested more than 20 million pounds in recent years on its speciality steels business. These include five new melting furnaces capable of producing the advanced materials demanded by customers.
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