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Tata Steel to Sell Pipe Mills in UK to Liberty House Group

Tata Steel on Tuesday said it has signed definitive agreement with Liberty House Group to sell its Submerged Arc Weld (SAW) mills at Hartlepool in the UK for an undisclosed sum.
The sale agreement covers the 42-inch and 84-inch pipe mills, also known as the SAW mills, where about 140 employees manufacture pipeline for gas and oil projects around the world, the company said in a statement.Tata Steel, however, said it would retain its 20-inch tube mill at the same Hartlepool site, where a further 270 people work.
"With this sale, Tata Steel UK will complete its portfolio restructuring to focus on the strip products supply chain linked to Port Talbot," Tata Steel UK CEO Bimlendra Jha said.
The sale is also an important step towards developing a more sustainable future for the rest of our UK business, he added.

The two parties will work to complete consultations with employees and trade unions, as well as transfer of supplier and customer contracts. The transaction is expected to be completed within the next few months, the statement said.

Earlier in February,Tata Steel had announced signing a definitive agreement to sell Speciality Steel business in the UK to Liberty House Group for 100 million pounds (about Rs 840 crore).

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