Steel boss admits 'interest' in Teesside Cast Products

THE MD of Corus’ parent Tata Steel was reported this week as confirming that Thai company Sahaviriya Steel Industries (SSI) was interested in buying Teesside Cast Products.

THE MD of Corus’ parent Tata Steel was reported this week as confirming that Thai company Sahaviriya Steel Industries (SSI) was interested in buying Teesside Cast Products.

The comments, given to Reuters’ Indian news service, follow pressure by unions and others for the company to come clean on talks to sell the Redcar plant, which was mothballed in February with the loss of around 1,600 jobs.

SSI referred all inquiries to Corus’ London office, where a spokesman said he could not comment on remarks made by Hemant Nerurkar, MD of the world’s eight largest steelmaker while attending the World Economic Forum meeting in Ho Chi Min city, Vietnam.

“As is the case for any company, we’re not in a position to confirm the identities of any potential investors until a deal has been agreed,” the spokesman said.

While neither company is prepared to go on the record, it is understood that negotiations are well advanced.

A Thai team was on Teesside again this week.

Last month, unions and MPs from the area joined national labour organisers from Community, GMB and Unite for a tour of SSI’s steel mills in Bang Saphan at the invitation of MD Mr Win Viriyaprapaikit.

At the time, the delegation described SSI as “an impressive outfit with a strong demand for (steel) slab” and “an ideal fit for TCP”.

 

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