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| Tata agrees Yorkshire speciality steel site sale | |
| (35 minutes later) | |
| Tata has confirmed it has reached an agreement to sell its speciality steels business for £100m. | |
| The business, which employs around 1,700 workers, is based in Rotherham, Stocksbridge and Brinsworth in South Yorkshire. | The business, which employs around 1,700 workers, is based in Rotherham, Stocksbridge and Brinsworth in South Yorkshire. |
| Tata said the deal with Liberty House Group was an "important step" in securing the long-term future of the business. | Tata said the deal with Liberty House Group was an "important step" in securing the long-term future of the business. |
| Steel union Community said the agreement was a "welcome step forward". | Steel union Community said the agreement was a "welcome step forward". |
| Read more about this and other stories from across South Yorkshire | Read more about this and other stories from across South Yorkshire |
| Liberty House Group said it was confident the business, which also has centres in Bolton and Wednesbury, West Midlands, would flourish within the group. | Liberty House Group said it was confident the business, which also has centres in Bolton and Wednesbury, West Midlands, would flourish within the group. |
| Bimlendra Jha, chief executive of Tata Steel UK, said: "For speciality steels this is an important step forward in securing a future for the business under new ownership." | Bimlendra Jha, chief executive of Tata Steel UK, said: "For speciality steels this is an important step forward in securing a future for the business under new ownership." |
| 'Advanced products' | 'Advanced products' |
| He also praised the performance of workers, trade unions and management in improving the company's performance. | He also praised the performance of workers, trade unions and management in improving the company's performance. |
| Roy Rickhuss, general secretary of Community, said there was still a lot of work to do before the sale was completed. | Roy Rickhuss, general secretary of Community, said there was still a lot of work to do before the sale was completed. |
| "Community has been campaigning for months for longer-term certainty for these highly skilled jobs and we will now engage more directly with Liberty to understand their plan for the business. | "Community has been campaigning for months for longer-term certainty for these highly skilled jobs and we will now engage more directly with Liberty to understand their plan for the business. |
| "The steelworkers concerned produce some of the world's most advanced steel products and we will need to be convinced this sale is in their best interests." | "The steelworkers concerned produce some of the world's most advanced steel products and we will need to be convinced this sale is in their best interests." |
| The deal has been welcomed by the government. Business Secretary Greg Clark said it was a "great opportunity" for Liberty House Group. | The deal has been welcomed by the government. Business Secretary Greg Clark said it was a "great opportunity" for Liberty House Group. |
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