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Tata steel bidders to be revealed by end of week

Credit: ITV Tyne Tees

It's understood a shortlist of bidders for Tata Steel's remaining UK business - including Hartlepool Pipe Mill - will be revealed by the end of the week.

The Hartlepool site employs over 500 people. Earlier this week Greybull Capital completed a takeover of Tata's long products division, includingn the Lackenby and Skinningrove sites, under the name British Steel.


British Steel hopes to build 'stronger future'

British Steel Commercial Director Peter Hogg has described today as a landmark day for the business. Tata has sold to Greybull Capital and 900 jobs are now safeguarded in the region.

“Today marks the first day of business for our new company and we are delighted to be launching under the iconic British Steel brand.

“It has taken a huge amount of effort and a strong partnership between our employees and their union representatives, our customers and our suppliers, and many months of hard work to get to this point. We also appreciate the help and support from both local and national government and our local MPs.

“Our industry has faced challenging times over the last few years, but we are confident that our new venture, built on our core values of pride, passion and performance, will not only reinvigorate this business, but position it as a world leader.

“Our heritage is important to us. For decades our skilled workforce has dedicated itself to producing the highest quality steel that has been used in landmark buildings and infrastructures projects around the world. The launch of British Steel will enable us to build a stronger future for both our employees and all those who do business with us.”

– British Steel Commercial Director Peter Hogg

Greybull Capital 'delighted' with Tata deal

“We are delighted to have completed this deal and proud to be backing this business. We have confidence in the transformation plan and in the ability of management and the workforce to implement the required changes. Much remains to be done, but the early signs are positive.

“Over the past few months the business has overcome a series of barriers to get to this point. Throughout this time the whole workforce and the trade unions have shown great professionalism and commitment to helping the business succeed. We know this will continue as we work together to strengthen British Steel further.”

– Greybull Partner Marc Meyohas
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