Good news for the British Steel industry!

In what is long overdue after months of fear and protests over the loss of thousands of jobs in the UK Steel market, there is finally something to be cheerful about. Tata Steel was the catalyst for the protests from British workers, who were campaigning for the saviour of their jobs, after the company made the decision to cancel their manufacturing operations in the UK. The decision from Tata Steel left at least 2’000 jobs effected directly and up to 8’000 at risk due to related businesses being affected.

However, after some anxious few months, a company in the form of Industrial and commodity group Liberty House have made a bid in an attempt to reduce at least some of the arrears. Liberty House have made a bid which is understood to be in the region of £100 million for three of Tata’s steelwork depots, these being in Rotherham, Stocksbridge and Hartlepool, they employ 1’235, 831 and 501 workers respectively. Liberty House has already purchased the Scotland business operations from Tata Steel, so these new acquisitions will add and improve to their ongoing portfolio. 

The bid has not yet been accepted as its understood Tata are still in talks with a number of other interested parties, in addition to this, Tata are also still in talks with German rival Thyssenkrupp over a possible mergence, which would include the acquirement of the UK operations. However, they have continued to discuss the sale of separate areas of their UK operations and will go ahead with them should offers be concluded before any deal is made with Thyssenkrupp. 
Although, it is only a quarter of the workforce that is likely to be saved from this particular deal, it is good to see Tata have interested parties and the British Steel industry is not going to give up without a fight.