News: Tata Steel confirms criminal investigation

News: Tata Steel confirms criminal investigation

Tata Steel and the Serious Fraud Office (SFO) have both confirmed that a criminal investigation has been launched at Speciality Steels, a business unit of Tata Steel (UK) Ltd based in South Yorkshire.

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Tata Steel formally begins sale process

THE SALES process for Tata Steel’s UK plants – including those in Rotherham – begun today.

The company also confirmed today it has sold its Long Products Europe business to Greybull Capital, saving thousands of jobs at its Scunthorpe plant.

But a deal is yet to be found for any of its other plants in the UK – including those at Aldwarke and Brinsworth.

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Tata Steel announces Scunthorpe plant deal

Tata Steel has confirmed a deal to sell its Scunthorpe plant in a move that is set to safeguard thousands of jobs.

Tata Steel has confirmed a deal to sell its Long Products Europe business, including its Scunthorpe plant, to UK-based investment firm Greybull Capital.

The move will safeguard more than 4,000 jobs, but workers are being asked to accept a pay cut and less generous pension arrangements.

Greybull said it was arranging a £400m investment package as part of the deal.

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1 thought on “News: Tata Steel confirms criminal investigation

  1. Biggest mistake this country ever made was to let our workers go out to India and build steel plants, together with letting India have our technology. We said at the time, “This will come back and bite us on the backside.” This is exactly what is happening now. In addition we have their 3rd world culture, which is totally corrupt, running our steel works in this country today! What a surprise there is a fraud investigation, it is part of Indian culture!


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