Tata Steel completes sale of Submerged Arc Weld in UK
Tata Steel on Tuesday said it has completed sale of its Submerged Arc Weld (SAW) mills at Hartlepool in the UK to Liberty House Group.
Last month Tata Steel had announced it has signed definitive agreement with Liberty House Group to sell its Submerged Arc Weld (SAW) mills at Hartlepool in the UK for an undisclosed sum. In a BSE filing, Tata Steel said, "it has completed the sale of its 42 and 84 inch pipe mills in Hartlepool Liberty House Group". The sale covers the 42 and 84-inch pipe mills, also known as the SAW mills, where about 140 employees manufacture pipeline for gas and oil projects around the world, the company said. Tata Steel, however, said it would retain its 20-inch tube mill at the same Hartlepool site, where a further 270 people work.
Earlier in February, Tata Steel had announced signing a definitive agreement to sell Speciality Steel business in the UK to Liberty House Group for about Rs 840 crore.