Tatas Com­plete Sale of 2 UK Pipe Mills to Lib­erty

The Economic Times - - Companies: Pursuit Of Profit - Our Bu­reau

Kolkata: Tata Steel UK has com­pleted sale of its sub­merged arc weld (SAW) mills in Hartle­pool to met­als group Lib­erty House.

The deal in­cludes sale of the 42-inch and 84-inch pipe-mak­ing mills, which em­ploy abo- ut 140 work­ers, the com­pany said in state­ment is­sued on Tues­day. The two mills are fed with steel plates sourced from out­side Tata Steel, and hence, in­de­pen­dent of the com­pany’s strip prod­ucts sup­ply chain.

Tata Steel did not dis­close the size of the deal. How­ever, even as it con­cluded the sale of the two pipe mills, Tata Steel is po- ised to make a £1-mil­lion in­vest­ment as part of a plan to re­tain and strengthen its 20inch tube-mak­ing mill, which em­ploys around 270 em­ploy­ees at the same Hartle­pool site.

The fa­cil­ity man­u­fac­tures pipes for a range of mar­kets and the pro­posed in­vest­ment will in­crease its ca­pa­bil­ity to make high-strength steel tubes.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.