March 2017 Current Affairs
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Tata starts UK steel sale

Tata starts UK steel sale
12 April 2016 Current Affairs: Tata Steel, the country’s largest steel producer, has signed an agreement to sell the loss-making 4.5-million tonne (mt) long-product Scunthorpe steel plant in Britain to UK-based investment firm Greybull Capital for a nominal consideration, with the latter taking assets and relevant liabilities.The crenelated steelmaker appointed KPMG LLC as process advisor for the “thorough, but expedited sale” of its entire shareholding in its subsidiary Tata Steel UK, which includes Britain’s largest steel plant at Port Talbot.The agreement with Greybull, an investor in distressed companies, will save thousands of jobs. The Long Products Europe business employs 4,800 people, 4,400 in the U.K. and 400 in France.The steel industry in the U.K. and Europe has been on a downturn owing to the global oversupply of steel, high production costs and cheap imports. The sale includes the Scunthorpe works, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, a mill in Hayange, France, and sales and distribution facilities.


March 2017 Current affairs
23 MAR
NEWS
22 MAR
NEWS
21 MAR
NEWS
20 MAR
NEWS
18 MAR
NEWS
17 MAR
NEWS

February 2017 Current affairs
28 FEB
NEWS
27 FEB
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25 FEB
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24 FEB
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23 FEB
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22 FEB
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January 2017 Current affairs
31 JAN
NEWS
30 JAN
NEWS
28 JAN
NEWS
27 JAN
NEWS
25 JAN
NEWS
24 JAN
NEWS

December 2016 Current affairs
31 DEC
NEWS
30 DEC
NEWS
29 DEC
NEWS
28 DEC
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27 DEC
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26 DEC
NEWS

November 2016 Current affairs
30 NOV
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29 NOV
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28 NOV
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26 NOV
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25 NOV
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24 NOV
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