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Tata Steel UK operations are 'back in the black'

Tata Steel UK operations are 'back in the black'

Added to MTDCNC by MTDCNC on 22 August 2016

Tata Steel may still be up for sale, but the company's UK operations are 'back in the black' with the company reporting a £5m profit margin in June, according to the Telegraph. Previously under huge pressure from the perfect storm of cheap imports, global overcapacity, high energy costs and excessive taxes, the company has weathered the worst of the storm to sail out the other side...

The sale of Tata's largest UK site in Port Talbot was suspended in July because of the uncertainty caused by the Brexit vote. In the short term, the result of Brexit has brought a positive impact for Welsh steel workers with the fall in the value of the pound making it less attractive for foreign businesses to export steel to the UK. This has been bolstered by a rise in the global price in steel.

Adding to the rise in global prices and the reduced value of the pound, the Tata staff have been undertaking drastic cost cutting measures and seeking efficiencies to bring the company back to profitability. Unfortunately, the future of Tata Steel UK staff still remains uncertain - let's hope their hard work and determination to turn the business around don't go unrecognised....

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