THAILAND – UK – STEEL
Corus plans to sell Teesside unit to
‘s SSI for $500 million news Thailand
Corus, the European subsidiary of Tata Steel today (27.08.2010) said that it will sell its mothballed Teesside Cast Products (TCP) unit in the UK to Sahaviriya Steel Industries (SSI), Thailand’s largest steel producer, for about $500 million (£321 million).
The proposed sale, if successful, would create a significant number of new jobs at the plant in addition to TCP’s existing workforce of over 700 and will provide a considerable boost to the local economy.
Nearly 1,700 people had lost their jobs when Corus,