Bosses at Tata Steel say it is time for them to focus on "viable" businesses as the company enter into negotiations to sell part of the firm which includes bases at Scunthorpe, Hull, Immingham and York.
Karl Köhler, CEO and MD of Tata Steel in Europe, said after a difficult period it was time to sell some of its businesses.
Liz Redfern, the leader of North Lincolnshire Council, says she is waiting for more details to emerge about the proposed sale:
Claire Ashforth spoke to staff at Tata's Scunthorpe base about the announcement that the company are in the process of selling part of the business:
The man behind a company in negotiations to buy part of Tata Steel has told ITV News that he intends to expand rather than close the business.
Gary Klesch said it was a "good time to buy" and that every company his firm had previously taken over has the same number of employees..."we are planning to recruit another 150 people."
Mr Klesch said he "does not buy businesses to close them down".
The General Secretary of the Community Trade Union says Tata Steel have been treating workers "with contempt" after announcing part of the business could be sold to the Swiss based Kensch Group.
Roy Riskhuss says unions need to know more about the proposed deal and are urging the government to ensure that if Tata did sell, the business would pass to a responsible buyer:
The Employment Minister says Yorkshire and the Humber is making "steady" progress following the release of the latest unemployment figures.
Esther McVey commended the county's progress, remaining in the top three best performing regions:
Scunthorpe MP Nic Dakin has been assured of a meeting with the Prime Minister over the future of workers at Tata Steel.
PM agrees 2 meet with myself & fellow MPs 2 c what govt can do to ensure a bright future 4 Long Products Steel in light of Tata's dcn today
The Labour MP says he will seek "reassurances for security of the local workforce."
The meeting has been welcomed by neighbouring Conservative MP Andrew Percy:
I failed to get in at PMQs on Tata Steel sale. Pleased @nicdakinmp did and secured a meeting for us all with the PM.
The chairman of the All-Party Parliamentary Group for the Steel and Metal Related Industry says questions must be asked of Tata after the company announced they were in negotiations to sell part of the business.
Bases at Scunthorpe, Hull, York and Immingham could be included in a potential sale to the Swiss based Klesch Group.
Tom Blenkinsopp has questioned whether Tata consulted with unions before announcing the negotiations and says workers' conditions must be respected:
Unions say they are disappointed in today's announcement that Tata Steel are in negotiations to sell parts of their business, including plants in Scunthorpe, Hull, York and Immingham.
They say Tata "failed to consult" with unions and the move "could have serious consequences for employees and contractors."
Next week, trade union representatives from across Tata Steel will meet to discuss the course of action that members wish to take.
The trade unions within Tata Steel – Community, Unite and GMB – are disappointed by today’s announcement.
We have no comment to make about the potential buyer, as at this stage we are opposed to the principle of the sale.
The fact that Tata Steel wants to abandon half of its European operations and pull out of an entire strategic market does not bode well for the future and ends Tata Steel’s vision to be a global steel player. Tata Steel has long emphasised that its European operations are ‘one company’ but today’s announcement is the final nail in that concept’s coffin.
We’re extremely disappointed with the way that Tata Steel have handled this announcement, which does not reflect well on Tata’s values. However, I am pleased that Tata Steel Chairman, Cyrus Mistry, has now agreed to meet the unions and I hope this can take place soon so that we can start to address the understandable worries and concerns of our members, their families and communities.
Tata Steel have announced they are in negotiations to sell part of the business which includes the integrated steelworks at Scunthorpe.
The Long Products arm of the business employs 6,500 people across Europe and includes plants and distribution centres in Scunthorpe, Hull, York and Immingham.
We will now move into detailed due diligence and negotiations, though no assurance can be given about the outcome. We will regularly engage with our employees and other stakeholders throughout this process, and we will consult with the trade union representatives and works councils.
We are making huge strides on our strategic journey to become a premium, customer-centred steel company thanks to investment in equipment, technology and customers, together with the substantial contributions from our employees.
We want to build a sustainable business in the UK and further develop our mainland Europe business and we are committed to providing the necessary leadership and financial resources to achieve that.
Prime Minister David Cameron has hailed the "biggest-ever fall in unemployment in history".
Cameron wrote on Twitter:
The biggest-ever fall in unemployment in history, taking it below 2m, is great news. Our plan is working, but there's still much more to do.