Posted: Thu 7th Apr 2016

Business Secretary confirms formal Tata Steel sale process

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Thursday, Apr 7th, 2016

[vc_row inner_container=”true” no_margin=”true” padding_top=”0px” padding_bottom=”0px” marginless_columns=”true” bg_video=”” class=”” style=””][vc_column fade_animation_offset=”45px” width=”1/4″][gap size=”20px” id=”” class=”” style=””][text_output]final-logo[/text_output][/vc_column][vc_column fade_animation_offset=”45px” width=”3/4″][gap size=”1px” id=”” class=”” style=””][/vc_column][/vc_row][vc_row padding_top=”0px” padding_bottom=”0px”][vc_column fade_animation_offset=”45px” width=”1/1″][text_output]Formal sale process for Tata’s UK operations to begin by Monday 11 April[/text_output][text_output]Business Secretary Sajid Javid has confirmed that the formal sale process for Tata’s UK operations will begin by Monday 11 April, and the company has committed to providing sufficient time for the process to be completed.

The news comes as the Business Secretary met with Tata’s group chairman Cyrus Mistry in Mumbai today (6 April 2016), where they talked through the details of the upcoming sales process and discussed timescales for any potential sale

Business Secretary Sajid Javid said:

A number of people have already started coming forward and I think more will do so once the formal process begins.

We’re listening, we’ve worked on this for a while, and we want to work with any potential buyer to see how we can help. The government will do everything it can to find a viable, long-term solution for Port Talbot and British steel.

Government stands ready to offer support to all potential buyers on various issues, including power, procurement and plant. The steel industry is currently dealing with unparalleled global economic conditions and the price of some steel almost halved in 2014.

The Business Secretary will continue to lead the government’s response to steel and has held multiple meetings with Tata, the unions, Tata’s workers and key stakeholders throughout this process.

Government continues to work with the industry and will continue to work with Tata, the Welsh government and others to find a viable long-term solution.

To date the UK government has:

secured state aid to compensate for energy costs
made sure there is flexibility over EU emissions regulations
ensured that social and economic factors can be taken into account when government procures steel
continue to tackle unfair trading practices at an EU and international level[/text_output][/vc_column][/vc_row]

Spotted something? Got a story? Send a Facebook Message | A direct message on Twitter | Email: [email protected]
Latest News

  • A494: lane blocked and long delays following collision
  • Future generation get sneak peek inside new Women and Children’s Building at the Countess of Chester Hospital
  • Holywell students excited to be shortlisted for Yr Wyddfa eco competition

  • More...

    A494: lane blocked and long delays following collision

    News

    Future generation get sneak peek inside new Women and Children’s Building at the Countess of Chester Hospital

    News

    Holywell students excited to be shortlisted for Yr Wyddfa eco competition

    News

    £240,000 fine for Cheshire company after fall left man from North Wales paralysed

    News

    Childline expects summer surge in body image concerns

    News

    M56: Drivers thanked as airport route resurfacing is completed

    News

    Broughton Shopping Park hosts events to boost love of reading

    News

    Hawarden: 10 writers shortlisted for prestigious Gladstone’s Library residency award

    News

    Plans to devolve highway funding to local authorities welcomed by North Wales MS

    News