Responding to the announcement that Greybull Capital LLP has reached a binding sale and purchase agreement with Tata Steel to acquire its Long Products Europe division, which includes steel mills at Lackenby and Skinningrove, Labour MP for Redcar Anna Turley said:
“I am pleased a future has been secured for Tata’s Long Products Division including the two sites on Teesside and I know it will be a relief to the workforce and their families who will have spent recent weeks and months anxious about their jobs and livelihoods.
The agreement with Greybull shows that there is a positive future for UK steel and that it will continue to make a vital contribution to the economy, including in Teesside. We have a highly skilled and highly motivated workforce whose commitment to their industry is the bedrock of this deal. It is reassuring that Greybull intend to maintain staffing levels with no further job reductions other than those previously announced by Tata.
I look forward to the completion of the deal and pay tribute to everyone involved, including Community Union who have worked constructively with Tata and Greybull on behalf of their members to secure a long term future for the business.
This is some positive news in what has been a very difficult time for our steel industry. I hope that a future is secured for Tata’s remaining UK assets and the thousands of jobs they support but it will take more government action to prevent a repeat of what happened to our blast furnace in Redcar.”