Sarah Champion MP Reacts to Developments in the Sale of the Specialty Steel Division of Tata Steel

Sarah Champion MP has welcomed the announcement that a Letter of Intent has been signed to enter exclusive negotiations between Tata Steel and Liberty House Group regarding the sale of Tata's Speciality Steels Division, which includes facilities in Rotherham.[1] Reacting to the announcement, Sarah said:

It is welcome that negotiations for the sale of Speciality Steels have reached this important stage. Speciality Steels is a strong business with huge potential.

This announcement marks the beginning of an extremely sensitive period for the business as negotiations proceed. Tata have engaged positively with employees and with trade unions during the process thus far and I hope that they will continue to be closely involved and consulted regarding any potential deal.

Sarah continued:

Whist this announcement is of course good news, we must ensure that the Government remains committed to supporting our steel industry and that they act to ensure its long-term viability. Some progress on this has been made, but this momentum must be sustained.

Steel remains a vital strategic industry and I hope that the Government will work with Tata and Liberty House to support Speciality Steel and ensure a viable future for steel in the UK.

[1] For details of the announcement, see: http://www.libertyhousegroup.com/news/liberty-moves-to-acquire-tata-steel-s-speciality-steels/

To read the full press release, click here

NewsVanessa Johns