International Steel Mills
March 31, 2016
Tata Steel to Pull Out of UK
Written by Sandy Williams
Tata Steel announced yesterday that it will consider selling off all of its British operations. In a review of its UK operations, the Tata Steel Board concluded that due to deteriorating financial performance in the past twelve months the company will “explore all options for portfolio restructuring including the potential divestment of Tata Steel UK, in whole or in parts.”
Tata Steel said that in the past five years the company has suffered more than £2 billion ($2.87 billion) in impairment charges for the UK business.
