Tata Steel confirms negotiations about the potential sale of its European long products business and associated distribution facilities to Klesch Group have been discontinued. The company had been in talks with Klesch following the signing of a Memorandum of Understanding in October 2014.
As of 2 August the long products business, with the associated distribution facilities, became a 100% subsidiary of Tata Steel UK Ltd. The new stand-alone business combines the strength of Tata Steel with a flexible and more focused operational approach.
The long products business will continue to focus on supporting customers by supplying them with innovative, advanced steel products – rail, wire rod, plate, sections and special profiles. This market differentiation strategy will remain a key focus for long products as progress is made towards a more sustainable future for the business.
Share on:
