Tata Steel has announced it will sell the entirety of its UK business after commenting that trading conditions in the UK and European steel industry had “rapidly deteriorated”.
Tata attributed the global oversupply of steel, imports into Europe, currency instability and growing costs as catalysts for the weakened position of the sector. Cyrus Mistry, chairman of Tata Steel, said in a statement: “These factors are likely to continue into the future and have significantly impacted the long term competitive position of the UK…
This content is for subscribers only. Subscribe now for free to read the full article.
Already a subscriber? Login
