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Tata Deal to Save Jobs in the Pipeline

Tata Deal to Save Jobs in the Pipeline

Added to MTDCNC by MTDCNC on 18 September 2016

The Tata steel plants in Stocksbridge, Rotherham and Hartlepool could have 2000 jobs saved by a deal that Liberty House has in the pipeline with the steel giant.

According to the Telegraph, the Liberty House Group is in line to acquire Tata's pipe business. It follows a £1 deal that was signed in April at Tata's Scunthorpe steelworks by Greybull Capital to develop a £400m rescue package.

Only yesterday the steel manufacturer announced that it had made a  loss in the region of £369m in the first quarter. However, Tata Europe reported a profit in excess of £19m which is credit to recovering steel prices, the fallen value of the pound and the efficiency program underway at the Port Talbot steelworks in Wales that employs over 4,000 staff.

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