Business Secretary confirms formal Tata Steel sale process
Formal sale process for Tata바카라 사이트™s UK operations to begin by Monday 11 April.
- Business Secretary Sajid Javid meets Tata Chairman Cyrus Mistry in Mumbai
- government will work with potential buyers and offer help
- interested parties have already come forward
Business Secretary Sajid Javid has confirmed that the formal sale process for Tata바카라 사이트™s UK operations will begin by Monday 11 April, and the company has committed to providing sufficient time for the process to be completed.
The news comes as the Business Secretary met with Tata바카라 사이트™s group chairman Cyrus Mistry in Mumbai today (6 April 2016), where they talked through the details of the upcoming sales process and discussed timescales for any potential sale
Business Secretary Sajid Javid said:
A number of people have already started coming forward and I think more will do so once the formal process begins.
We바카라 사이트™re listening, we바카라 사이트™ve worked on this for a while, and we want to work with any potential buyer to see how we can help. The government will do everything it can to find a viable, long-term solution for Port Talbot and British steel.
바카라 사이트 stands ready to offer support to all potential buyers on various issues, including power, procurement and plant. The steel industry is currently dealing with unparalleled global economic conditions and the price of some steel almost halved in 2014.
The Business Secretary will continue to lead the government바카라 사이트™s response to steel and has held multiple meetings with Tata, the unions, Tata바카라 사이트™s workers and key stakeholders throughout this process.
바카라 사이트 continues to work with the industry and will continue to work with Tata, the Welsh government and others to find a viable long-term solution.
To date the UK government has:
- secured state aid to compensate for energy costs
- made sure there is flexibility over EU emissions regulations
- ensured that social and economic factors can be taken into account when government procures steel
- continue to tackle unfair trading practices at an EU and international level