Tata Steel to sell Teesside assets to Sahaviriya

Tata Steel UK is to sell certain assets of Teesside Cast Products to Sahaviriya Steel Industries UK, a subsidiary of Thailand’s largest steel producer, in a deal worth $469m (£290m).

Karl-Ulrich Köhler, managing director and chief executive of Tata Steel in Europe, said: ’I am very encouraged that after all our efforts we have been able to reach this agreement, which is good news for the highly skilled and dedicated Teesside workforce.’