Yorkshire steelworks still on the table after Tata strife

SPECIALIST steelworks at Rotherham and Stocksbridge near Sheffield are still on the market, even if its Tata owners decide to keep the rest of their UK business.

This follows a difficult period for Tata. Chairman Cyrus Mistry was ousted in a boardroom coup at the end of October, and the divorce has become increasingly acrimonious.

The change in leadership sparked rumours that Tata’s UK business would stay in its hands. But the Yorkshire specialist steel sites, which employ 2,000, are reportedly still on the market, and a spokesperson for Tata confirmed this today.

Tata Steel dismissed talk of write downs following the departure after Mr Mistry’s allegations of failure at the top of Tata which he said destroyed shareholder value by billions of dollars.

A Tata Steel spokesman said: “Discussions have been ongoing with a number of interested parties regarding the sales process of our Speciality Steels business since our announcement in July.

“Bidders have been given the opportunity to meet with management and conduct site visits, as well as having access to information to assist in performing due diligence.

“The process is ongoing and we will provide a further update at the appropriate point.”