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«Tata Steel» has found a buyer for «Scunthorpe»

16 December 2015

The British edition of «Sunday Telegraph» informed about the status of Tata Steel regarding «Scunthorpe» plant. In November, an Indian company announced its intention to close it or sell. Today wishing to purchase plant found. Agreement on the transfer of the company may be concluded by the end of 2015. The plant is focused on the release of the shaped, rolled section steel, rails and steel plate. Its annual production capacity is 3.2 mln. Tons. Representatives of the «Sunday Telegraph» named three companies which have shown interest in buying. Two of them British, the firm «Endless» and «Greybull Capital». Both companies specialize in the acquisition and subsequent restructuring of distressed companies. After this step, if the resale companies. The third likely buyer — a private investment company in America. There is information about another likely contender. Klesch group, registered in Switzerland, owned by Gary flared, an American businessman. The company is also focused on the redemption and restructuring of troubled companies.

Previously, Karl-Ulrich Kohler, who is the CEO of Tata Steel Europe, explained the reasons for the sale of the plant. This division, which produces steel products for construction application, does not fit into the company structure. After such a declaration is concern that a single plant Tata Steel will not stop. According to rumors will go under the hammer shaped European assets and bars. Representatives of Indian corporation prefer to remain silent on this issue. However, the management team notes that the consideration of business development options continues.

At the same time, in October 2015 Tata Steel Europe took cuts staff. On «Scunthorpe» jobs lost about 900 people. This amount is more than 20% of the initial number of workers. Factory sales can hardly be called a surprise. Given the reduction in rental cost in continental Europe and the UK, are not surprising losses of the enterprise. An additional factor was the expansion of the scope of problems in the EU steel imports from the same China. Several correct state of affairs can large order obtained by the earlier this month. Over 5 years «Scunthorpe» must deliver 750,000 became the French side. Metal is used for the production of rail company SNCF. Manufacturing of production will be carried out on the «Hayange» company. This plant is also owned by Tata Steel.

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