Carpet Specialist SHEFFIELD
A GENUINE
facebook.com/ LookLocal
OFFER ENDS
twitter.com/ Look_Local
THIS SAT 18th FEB
10% OFF www.tuftscarpets.net
Tel 0114 234 2202
1 Learoyd Way, The Barracks, Hillsborough, Sheffield S6 2LR
www.looklocal.org.uk
Est. 1998
ALL CARPETS & VINYLS
special peT FeaTURe
Supporting the Local Community
18
ToUR de yoRkshiRe
live local
news@looklocal.org.uk
24
SHoP local
Tel. 0114 283 11 00
Thursday 16th February 2017 Issue 944
look local
TaTa aGRee To Sell TATA Steel UK has signed a definitive sale agreement to sell its Speciality Steels business – including Stocksbridge - to Liberty House Group for a total consideration of ÂŁ100 million. The sale agreement covers several South Yorkshire-based assets including the electric arc steelworks and bar mill at Rotherham, the steel purifying facility in Stocksbridge and a mill in Brinsworth as well as service centres in Bolton and Wednesbury, UK, and in Suzhou and Xi’an, China. Speciality Steels directly employs about 1,700 people making steels for the aerospace, automotive and the oil and gas industries. Bimlendra Jha, CEO of Tata Steel UK, said: “This is good news for Speciality Steels and for Tata Steel’s core business in the UK. For Speciality Steels, which is largely independent of our European strip products supply chain, this is an important step forward in securing a future for the business under new ownership. Today’s news also marks another important step forward in realising a more sustainable future for our Port Talbot-based supply chain in the UK.â€? Mr Jha added: “Like our former Scunthorpe-based Long Products
business which we sold last year, we will be handing over a business which has been transformed following difficult decisions to restructure and re-focus on highervalue markets. Employees, trade unions and the management team have worked incredibly hard at Speciality Steels to improve its performance and I’m delighted to say that the business is now on an improvement track which will enable it to thrive in the future.� Completion of the transaction remains subject to the receipt of necessary regulatory clearances. The parties will also be working to complete consultation with employees and the transfer of supplier and customer contracts. Tata Steel and Liberty House Group have worked constructively together to finalise the agreement. Tata Steel UK is currently consulting with its employees on number of proposals that would structurally reduce risks and help secure a more sustainable future for its wider UK business. It is also in discussions with the British Steel Pension Scheme trustee and the Pension Regulator to develop a structural solution for its UK pension scheme in the coming months.
Angela Smith MP welcomed the news. She said: “Today’s news that Liberty has come to a formal arrangement to purchase Speciality Steels is great news for workers in south Yorkshire and beyond. Speciality Steels employs some 1700 people locally and today’s announcement means that for the foreseeable future at least these jobs are now secure. “Liberty’s mix of companies represents a good match for Speciality Steels and the company has promised investment to make sure it can remain at the top end of global steel making. “The purchase will make Liberty one of the largest steel and engineering employers in the UK, with more than 4,000 workers at plants located across Britain’s industrial heartlands. “This will mean South Yorkshire remains at the centre of high value steel making and that high value jobs remain in the area. It is also a deal welcomed by the Trade Unions. “I look forward to working with the new owners to make sure Speciality Steels has a secure future and will keep a keen eye on developments, especially as far as investment in the company is concerned.�
tra in 2 in tro fr in d e g uc e se to ss ry io ns *
• Always with your personal trainer • Train alone or together • No need to change clothes
GET YOUR FREE QUOTE AT
directkitchens.co.uk OR CALL US ON
0114 240 0158
Design House, 184 Church Street, EcclesďŹ eld, SheďŹƒeld, S35 9WG
F2U00001
“Excellent�
0114 288 8795 info@fit20.co.uk www.fit20.co.uk fit20uk
* Special offer: 2 free introductory training sessions
- Cut out this coupon and exchange it at one of our studios. Offer valid through 1st March 2017 and not valid in combination with other offers.
expe rie your nce it self !