Thai steel company SSI has signed a memorandum of understanding to buy a mothballed Corus Steel factory for £320m and hopes to begin producing steel again in 2011.
The Teesside Cast Products plant in Redcar was mothballed by Corus owner Tata Steel earlier this year after a consortium of four international steel buyers pulled out of a ten year contract which provided 80 per cent of the workflow at the site just four years in. Today, Tata announced a deal has been reached…
This content is for subscribers only. Subscribe now for free to read the full article.
Already a subscriber? Login
