News: £6m price tag for Swinden House site

The price of the former Swinden Technology Centre (STC) in Rotherham has be disclosed a year and a half since the sale was confirmed.

Rothbiz revealed in 2020 that a deal had been struck to enable Keepmoat Homes to progress its own plans for 197 homes at the Moorgate site.

Tata Steel considered that it was no longer a suitable home for its R&D arm and announced in 2014 a relocation to Warwick University. 60 staff moved to premises at Meadowhall Business Park in 2019.

Land agents at Harris Lamb have now confirmed that it has sold the 16-acre site to Keepmoat for almost £6m. The purchase of the site from Tata Steel was completed in October 2021.

Keepmoat Homes has already begun building 172 new homes and converting the Listed buildings to 27 apartments. THe development has been named: "Moorgate Boulevard."

The new scheme has been carefully designed to incorporate the key features of the site, and will include renovating the original gate house, and retaining the tree lined approaches and the original Victorian landscaping features and design.

The new development will see Keepmoat deliver over £70m of new investment to the area over the next three years , providing almost 200 high quality new homes, of which eight will be for affordable housing.

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Chris Jones, Director, said: “Opportunities such as this site , with its original Victorian layout and fully walled and original landscaped features, rarely come to market – particularly for residential housing, and we are delighted to have overseen this sale after many months of liaison.

“All parties involved including Keepmoat Homes, Tata UK Ltd, the Local Planning Authority and many associated consultants have played a large part in making this site what will clearly be a huge success.

“It is clear from the interest from the general public throughout the consultation and planning process, that demand to purchase and live in this unique location is significant, and we look forward to seeing the completed residential scheme come to fruition.”

Ben Hindley, Head of Land and Partnerships for Keepmoat Homes, said: “We are thrilled to have secured this very special site, and look forward to developing it and creating a superb collection of homes and apartments for the people of Rotherham.

“We place a great deal of importance of respecting the heritage of a site, and once complete, this site will provide both high quality housing and a lasting tribute to the Centre’s history.”

United Steels acquired the site in 1946 and in addition to research laboratories, it also includes Swinden House, the former home of Rotherham solicitor Thomas Badger, plus playing fields, tennis courts and orchards. The Grade II listed building, previously known as "Red House" was completed in around 1880. The stable block, walled garden and the lodge are also protected.

From 1948, Swinden Technology Centre had a major influence on products for most manufacturing processes , particularly in the growing aviation industry and – at the time – new jet engines.

Keepmoat Homes website

Images: Keepmoat

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News: Deal for steelworker pensions

Pension Insurance Corporation plc, a specialist insurer of defined benefit pension funds, has signed a £2 billion pension insurance buyout with the Trustee of the Old British Steel Pension Scheme (OBSPS).

The deal should guarantee future pension payments for all of the more than 30,000 members at, or above, Pension Protection Fund (PPF) levels of compensation.

In 2016, the Government launched a consultation on changes to the pension scheme - the huge pension liability with a deficit of £700m reported at the time - that was seen as a deal-breaker for prospective buyers of Tata Steel's UK assets.

Liberty bought the Speciality Steels business from Tata Steel in 2017, including sites in Rotherham.

The Scheme entered PPF assessment in 2018 following the restructuring of Tata Steel UK Limited. PIC worked closely with the Trustee to establish that the Scheme had sufficient funds to support a buyout of the Scheme and, importantly, to enhance members’ benefits above those payable by the PPF for any members who lost out as a result of entering the PPF assessment. PIC was able to structure the transaction in a way that gave the Trustee price certainty in the current, volatile financial markets.

The Scheme will now go through a period of reconciling member benefits and calculating uplifts where applicable, whilst the overall benefits are guaranteed by PIC within a buy-in structure. The process is expected to complete towards the end of 2021, when the members will come out of the PPF and become direct PIC policyholders.

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Open Trustees Limited has been the Scheme’s Trustee since 29 March 2018. It is an independent entity but is wholly owned by international law firm, Osborne Clarke LLP. The Trustee was advised by Barnett Waddingham LLP and Hogan Lovells. PIC was advised by HSF.

Jonathan Hazlett, Managing Director of Open Trustees Ltd, said: “We are delighted to have entered into this buy-in policy with PIC. This transaction will eventually see OBSPS members receive benefits either at the same PPF level as those currently provided or, for many members, an uplift above that amount.

“It has been difficult for the OBSPS members over the last few years. Whilst the PPF provides a valuable safety net and a significant level of protection, many members will now receive higher benefits than they might otherwise have expected. OBSPS members can take comfort that their benefits will be looked after by an insurer which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority, as well as being committed to the highest levels of customer service.”

Uzma Nazir, Head of Origination Structuring at PIC, said: “This is a significant transaction, guaranteeing the benefits of the more than 30,000 pension scheme members who have faced a long period of uncertainty about the level of their benefits, and providing many with an uplift over PPF levels. We are delighted to have been able to work so closely with the Trustee and Barnett Waddingham and ultimately deliver what was required in the biggest and most significant transaction of the year.”

Rosie Fantom, Partner at Barnett Waddingham, said: “This is a significant step in what has been a long journey for OBSPS members, who now have the certainty that their benefits have been secured with an insurer on very favourable pricing terms in a turbulent market. Rigorous work carried out over the last two years allowed the scheme to take full advantage of bulk annuity pricing.”

Images: Tata Steel

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News: Keepmoat's plans for Swinden House

Housebuilder, Keepmoat, has moved quickly to submit its plans for the Swinden House site in Rotherham, having acquired the land from Tata Steel.

Rothbiz reported last week that the Doncaster firm had bought Tata Steel's Swinden Technology Centre (STC) for an undisclosed sum.

A full planning application for the 16 acre site on Moorgate was submitted in 2018 and now Keepmoat has submitted its own set of plans.

They show that Keepmoat wants to up the number of new houses from the 2018 plans, from 101 to 170.

With the 1940's laboratory buildings demolished, the historic buildings are set to be converted to 27 apartments and preserved as landmark buildings within the new development.

The new houses, in Keepmoat's style, are proposed to be across a range of different house types. Two bedroom units will comprise 26% of the total dwellings, whereas three bedroom properties will comprise 38%, and four bedroom properties will account for 36%.

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Based on the floorspace, applicants have concluded that eight of the 197 properties should be classed as affordable. The site is also within "Residential Zone 1 High" of the Council's Community Infrastructure Levy, with a rate of £55 per sq. m.

The plans, drawn up by consultants, DLP, state: "The mix has been selected to appeal to range of homeowners, including first time buyers, growing families and those willing to downsize."

The buildings set to be convert are Swinden House, Swinden House Stable Block, Swinden Lodge and Sitwell Lodge.

Swinden House, the former home of Rotherham solicitor Thomas Badger, is a Grade II listed building. Previously known as "Red House" it was completed in around 1880.

Plans show that the main vehicular access to the site will be taken from an existing access point on Moorgate Road, and that this will be one way entry. A second exit and entry point is planned via an amended access point on Beaconsfield Road.

A vehicle-free access route through the centre of the site is proposed, retaining the long tree-lined drive. Formal open spaces around Swinden House and Sitwell House are also propsed and the existing orchard in the eastern corner of the site is set to be retained and enhanced.

Keepmoat website

Images: Keepmoat / DLP / nineteen47

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News: Swinden House site sold

Tata Steel's Swinden Technology Centre (STC) in Rotherham has been bought by Keepmoat Homes for an undisclosed sum.

The historic buildings of Swinden House, the Coach House, the Lodge and Sitwell House on Moorgate Road are set to be converted to high quality apartments and preserved as landmark buildings within the new development.

A full planning application for the 6.7-acre site on Moorgate was submitted in 2018. It includes 101 new properties, including 27 high-end apartments incorporating the conversion of the existing buildings but a decision was never secured.

Agents, Harris Lamb have confirmed the sale, adding that Keepmoat will progress its own plans for 197 homes at the site.

Chris Jones, Director at Harris Lamb, said: “From the very beginning, there was a lot of interest in the Swinden Technology Centre site. Combining important architectural and heritage interest with a prime development location in the exclusive Moorgate area, the site is very well-placed for a high-quality redevelopment within a very desirable area.

“Positioned opposite the hospital and surrounded by high-quality residential buildings in a peaceful, quiet environment benefitting from a strong landscape belt around its periphery, Keepmoat Homes recognised the site’s huge potential for both the construction of a number of high quality new homes, but also relished the opportunity to sympathetically convert the beautiful historic properties on site for residential use.

“The sale has now exchanged, and the developer has submitted an application for both the conversions and new homes. We are delighted to have overseen this sale on behalf of TATA Steel and look forward to seeing the resulting development in due course,” he added.

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Derek Wilson, Director of Keepmoat Homes, said: “We are delighted to have secured this site. The development nestles within an existing mature setting, with fabulous listed buildings and grounds that will be embraced and enhanced to create an amazing place.

“Having exchanged recently, submitting the planning application is a significant step forward and we are excited about working with RMBC as we progress through planning and delivering another Keepmoat development of the highest quality.”

A decision is expected later this year.

United Steels acquired the site in 1946 and in addition to research laboratories, it also includes Swinden House, the former home of Rotherham solicitor Thomas Badger, plus playing fields, tennis courts and orchards. The Grade II listed building, previously known as "Red House" was completed in around 1880. The stable block, walled garden and the lodge are also protected.

The site also includes Sitwell House, a late nineteenth century house that is not a listed building.

The facilities at STC were claimed to be, by the 1960s, one of the largest research organisations devoted to metallurgy in Europe.

Tata Steel considered that it is no longer a suitable home for the R&D arm and announced in 2014 a relocation to Warwick University. 60 staff moved to premises at Meadowhall Business Park in 2019.

Keepmoat Homes website

Images: Harris Lamb / Google Maps

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News: Tata Steel deal keeps staff in the region

Tata Steel is to relocate one of its support operations from offices in Rotherham to new premises in Sheffield this summer.

The steelmaker is vacating the research and development site of the Swinden Technology Centre (STC) in Rotherham. Tata considers that it is no longer a suitable home for the R&D arm and announced in 2014 that it is relocating research to Warwick University.

Rothbiz reported last month that the 6.7-acre site on Moorgate has been put up for sale. A full planning application was submitted last year and includes 101 new properties, including 27 high-end apartments incorporating the conversion of the existing buildings.

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Now a commercial property deal has been secured that sees Tata Steel acquire a 12,000 sq ft unit at ARBA Group's recently refurbished Meadowhall Business Park to accommodate approximately 60 staff from its core business support and specialist environmental testing functions. Fit out works has now started.

Richard Burns, director at ARBA Group, said: "The success of our development at Meadowhall Business Park confirms that high quality accommodation, which can be flexibly used, attracts tenants.

"Not only that, but the location has been key. We are on a prime site close to the M1 with an immediate useful surrounding environment for businesses. We have city centre amenities in an out of town location with retail and leisure attractions close by."

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Having decided to sell, in 2017 the Indian-owned steelmaker concluded a deal with international industrials and metals group, Liberty House, to acquire Tata's Speciality Steels business for a total consideration of £100m which included the key operations and Aldwarke in Rotherham.

British Steel, a long steel products business founded in 2016 with assets acquired from Tata Steel Europe, also had R&D operations at Swinden Technology Centre. Last year, the company secured a 15,063 sq ft unit on the Advanced Manufacturing Park (AMP) in Rotherham.

Tata Steel website

Images: ARBA

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News: Swinden House site up for sale

Tata Steel's Swinden Technology Centre (STC) in Rotherham has been put on the market for residential conversion with agents, Harris Lamb.

The historic buildings of Swinden House, the Coach House, the Lodge and Sitwell House on Moorgate Road are set to be converted to high quality apartments and preserved as landmark buildings within the new development.

A full planning application for the 6.7-acre site on Moorgate was submitted last year. It includes 101 new properties, including 27 high-end apartments incorporating the conversion of the existing buildings.

Chris Jones, head of residential Land at Harris Lamb, said: "This is a high-quality opportunity for developers seeking prime locations. The site is surrounded by high-quality residential buildings and is set in a peaceful, quiet environment, benefitting from a strong landscape belt around its periphery, and a tree-lined access road off Moorgate Road.

"The site was previously used by Tata Steel as a centre for Research and Development having a mixture of buildings across the site including the Grade II Listed Swinden House, along with its associated buildings and Sitwell House.

"We are now seeking unconditional offers for this rare opportunity. We anticipate high levels of interest from developers keen to take the helm of what is sure to be a desirable conversion project within the region."

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According to planning documents, the scheme has estimated development costs of over £30m.

United Steels acquired the site in 1946 and in addition to research laboratories, it also includes Swinden House, the former home of Rotherham solicitor Thomas Badger, plus playing fields, tennis courts and orchards. The Grade II listed building, previously known as "Red House" was completed in around 1880. The stable block, walled garden and the lodge are also protected.

The site also includes Sitwell House, a late nineteenth century house that is not a listed building.

The facilities at STC were claimed to be, by the 1960s, one of the largest research organisations devoted to metallurgy in Europe.

Tata Steel considered that it is no longer a suitable home for the R&D arm and announced in 2014 a relocation to Warwick University.

Harris Lamb website

Images: Tata Steel / Harris Lamb

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News: Swinden House redevelopment plans submitted

Plans to build 100 new houses on the site of the Swinden Technology Centre (STC) in Rotherham have been submitted on behalf of Tata Steel.

The steelmaker has vacated the research and development site and the laboratories are being demolished. Tata considers that it is no longer a suitable home for the R&D arm and announced in 2014 that it is relocating research to Warwick University.

Property consultants Harris Lamb have been working on a masterplan for the 6.6 hectare Moorgate site and proposals went on show last year. The plans involve 101 new dwellings, keeping the Grade II-listed Swinden House and other historic buildings and converting them into 26 flats.

The planning application submitted this week is for full consent for the conversion of the retained buildings and outline consent to develop the remaining site including access.

The application states that "the scheme proposes to retain Swinden House, Sitwell House, the workshops and the former gatehouse. These will be refurbished and converted to residential use. The remaining laboratory buildings will be demolished to make way for the redevelopment of the site as housing."

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The scheme, which has estimated development costs of over £30m, is set to create "a new build residential development focused on the location of the laboratory buildings, open spaces, car park and single area of open space" in order "to create a comprehensive residential scheme that marries the old and new.

"The site's main features; the heritage assets, tree belts and central open space will all be retained and managed, making them a centerpiece to the scheme."

A financial assessment submitted with the application explains that the high quality location, and the private "parkland" nature of the former Swinden Technology Centre, will generate an above average residential value compared with the general Rotherham area. It adds that the proposed specification of the residential development is likely to be the "higher end" new-build standard.

A range of dwelling sizes are included in the proposals, from one bedroom apartments to five bedroom houses. The types of dwelling range from apartments within the conversions to terraced, semi detached and detached houses. Anticipated sales values for the open market units sit between £168,432 and £532,400.

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In terms of access, one-way access will come from the existing entrance on Moorgate Road, where the existing lodge will be retained. A new two-way access route from Beaconsfield Road is set to be created.

Rotherham Council adopted its Community Infrastructure Levy last year and developers behind new housing in the Moorgate area set to pay £55 per sq m. However, the planning consultants are discounting the levy as the site has been in its lawful use as an employment site.

The applicants are also hoping to provide no affordable housing as they consider that including 25% affordable housing would make the scheme unviable.

United Steels acquired the site in 1946 and in addition to research laboratories, it also includes Swinden House, the former home of Rotherham solicitor Thomas Badger, plus playing fields, tennis courts and orchards. The Grade II listed building, previously known as "Red House" was completed in around 1880. The stable block, walled garden and the lodge are also protected.

The site also includes Sitwell House, a late nineteenth century house that is not a listed building.

The facilities at STC were claimed to be, by the 1960s, one of the largest research organisations devoted to metallurgy in Europe.

It is understood that the Indian-owned steelmaker will sell the site if and when planning permission for the residential development is secured.

Images: Tata Steel / Harris Lamb

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News: Swinden Labs demolition

Plans have been submitted so that demolition can take place at the Swinden Technology Centre (STC) site in Rotherham, as the owners, Tata Steel, look to change the use to a residential development.

The STC mainly focuses on product research and applications research for the transport, building and construction sectors but Tata considers that it is no longer a suitable home for the R&D arm and announced in 2014 that it is relocating research to Warwick University.

With Tata Steel's intention to leave the site, pre-application discussions with the Council have been taking place for a while.

Property consultants Harris Lamb have been working on a masterplan for the Moorgate site and proposals went on show earlier this year. The plans involve over 100 dwellings, including keeping the Grade II-listed Swinden House and converting into flats.

It is understood that the Indian-owned steelmaker will sell the site when planning permission for the residential development is secured.

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The facilities at STC were claimed to be, by the 1960s, one of the largest research organisations devoted to metallurgy in Europe but in 2014 Tata Steel considered them to be "no longer a suitable home to the research and development arm of Britain's second largest steel manufacturer."

The conversion of the lab buildings was looked at but discounted and now demolition firm, DSM has been appointed and plans have been submitted to take down the laboratories and associated buildings - the canteen, garage and storage shed. The labs were constructed in phases between the late 1940s and early 1970s.

Rotherham Council will need to approve the method of demolition and a timetable has not yet been published. A 2016 agreement between Tata Steel and Council planners showed that there is the potential for dwellings to start to be delivered on the site within the next five years.

United Steels acquired the site in 1946 and in addition to research laboratories, it also includes Swinden House, the former home of Rotherham solicitor Thomas Badger, plus playing fields, tennis courts and orchards. The Grade II listed building, previously known as "Red House" was completed in around 1880. The stable block, walled garden and the lodge are also protected.

The site also includes Sitwell House, a late nineteenth century house that is not a listed building but is set to be retained.

Images: Harris Lamb / DSM / NAMTEC

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News: £550m pension payment proposal from Tata Steel

Tata Steel has put forward proposals to pay £550m so it can move forward following the closure of the British Steel Pension Scheme (BSPS).

Last year, the Government launched a consultation on changes to the pension scheme - the huge pension liability with a deficit of £700m reported at the time - that was seen as a deal-breaker for prospective buyers of Tata Steel's UK assets.

The consultation followed intense discussions between Tata Steel, the UK government, the pension scheme trustees and regulators to find the best option for members of the scheme.

The scheme has assets of around £15 billion and 130,000 members, around two thirds of which are pensioners.

Earlier this year, the trustee warned that if Tata Steel UK (TSUK) could no longer access additional capital from the wider Tata Steel Group for continuation of business, then the trustee would have to adopt more risk-averse investment policies that are expected to produce lower investment returns. This could have led to a deficit of between £1 billion and £2 billion. In January, TSUK confirmed that, given its current and projected performance, it does not expect to be able to pay the contributions required to close this deficit.

Union members at Tata Steel sites in the UK, including in South Yorkshire, voted to accept a proposal to close the BSPS to future accrual and now the Indian-owned steelmaker has announced that it has agreed terms for an arrangement that would separate the scheme from Tata Steel.

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Working with the trustees, The Pensions Regulator and the Pension Protection Fund (PPF), Tata is hoping to secure a Regulated Apportionment Arrangement - a statutory mechanism which allows a company to free itself from its financial obligations to a pension scheme in order to avoid insolvency.

As part of the arrangement, Tata has agreed to pay £550m to the BSPS and BSPS is being given a 33% equity stake in Tata Steel UK (TSUK).

All members and pensioners of the BSPS would be offered an option either to transfer to a new pension scheme sponsored by Tata Steel offering modified benefits, or to remain in the BSPS and so receive PPF compensation.

The PPF is the safety net that provides compensation to members of eligible defined benefit pension schemes when things go wrong.

Trade unions also secured a guarantee from Tata that commits Liberty House, the new owner of the former Tata Speciality Steel sites in South Yorkshire, to honour the new defined contribution pension arrangements. This means that under the new owner, union members in Speciality Steels would be entitled to the same pension arrangements as members in Tata Steel UK, with employer contributions of up to 10%.

Allan Johnston, BSPS Trustee Chairman, said: "I am pleased that agreement in principle has been reached with TSUK about sponsorship of a modified pension scheme subject to qualifying conditions.

"Although the PPF is an important safeguard for pension schemes generally, the Trustee believes that the BSPS has sufficient assets to offer members the potential for better outcomes by enabling them to transfer to another scheme offering modified benefits. For most Scheme members, these modified benefits are expected to be of greater value than those they would otherwise receive by transferring into the PPF."

Tata Steel also reported its latest financial figures for the year ended March 31 2017. In Europe, EBITDA (earnings before tax) was £536m, compared to the loss of £52m in the previous year. The steelmaker said that this was due to "stronger market conditions, currency tailwinds, restructuring of UK operations as well as the ongoing improvement programmes, including the supply chain transformation programme which went live during the year."

During the period, Tata Steel completed the sale of its Speciality Steels business for a total consideration of £100m to Liberty House.

Tata Steel website

Images: Tata Steel

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News: Liberty House welcomed in Rotherham

The announcement of investment and new jobs from the new owners of the speciality steel making sites in South Yorkshire has been welcomed.

An official handover took place this week after international industrials and metals group, Liberty House formally completed the £100m deal to acquire the Speciality Steels division of Tata Steel UK.

John Healey, who is standing again for the Wentworth & Dearne constituency which covers the Aldwarke plant, said: "It's great to see the sale go through. For the first time in years, Rotherham steelworkers and their families have some hope for the future.

"Liberty House has pledged the investment, jobs and marketing that can continue specialty steel's success. They're aiming for more jobs, fresh overseas markets, expansion of the Thrybergh bar mill and to boost steel-making in the main Rotherham plant.

"I will carry on working to back the new owners and the workforce, and keep on the Government's case about support for our UK steel industry. Liberty is backing British steel-making, and Government must now play its part on energy costs, business rates, skills funding and a strong buy-British bias in big Government projects."

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Sarah Champion who is bidding to remain the MP for Rotherham, added: "I am delighted and relieved that Liberty House recognises the potential of speciality steel in our region. The fact they are planning to expand operations and invest in more jobs proves their long-term commitment and is most welcome.

"Today's news is testimony to the years of campaigning and negotiations by workers, unions, local Labour MPs and Tata Steel.

"Going forward, we still have much to fight for to allow the steel industry to flourish. Two years after we got the Secretary of State for Business to attend our steel summit in Rotherham, the Government is no further on with resolving their high energy prices or unfair business rates - which means British steel can’t fight on a level playing field. We need free, but crucially, fair trade to markets such as the EU and USA, as well as being robust on anti-dumping from China and Russia.

"Our steel industry deserves more than warm words from Government. We need real action."

Roy Rickhuss, general secretary of the steelworkers' trade union, Community, said: "The completion of the sale will bring some welcome certainty to a workforce that has faced a tough time over recent months and years. It's testament to the skills and commitment of the steelworkers and the trade union leadership within the business that Liberty has taken on Speciality Steels and given it new hope. This also demonstrates that with the right vision there are opportunities for the UK steel industry to grow. We will continue to work closely with Liberty House in the coming months to ensure that their growth plans and investment deliver the new jobs and the sustainable future for the business that is promised.

"To support and guarantee the success of the business, all parties in the general election must demonstrate a commitment to a joined-up industrial strategy, which will create the environment where Speciality Steels and other steel businesses can thrive. That's why we will continue to speak up for steel communities and to campaign to Save our Steel."

Liberty House website

Images: Sarah Champion / twitter

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News: Tata timeline in South Yorkshire

Under Indian ownership, the Rotherham steelworks continued to produce some of the best high grade specialist steel in the world despite the global economic downturn, rising electricity costs, restructuring and job losses.

2003 - As its stock market value plummeted, Corus - the Anglo-Dutch company created in a merger in 1999 - begins looking for a buyer.

2006 - The Indian Tata Group propose a £4.1 billion takeover of Corus at 455 pence a share in cash, which is approved by the Corus board.

2006 - A mammoth bidding war begins between Tata Steel and Cia. Siderurgica Nacional (CSN) of Brazil.

2007 - Pushed up to 608 pence per share in cash, Tata concludes the £6.7 billion Corus takeover. It is almost ten times larger than any previous acquisition made by the group or by any Indian company.

2007 - Still operating as Corus Engineering Steels, success is found at the higher end of the market. The South Yorkshire operations are supplying steel for the A380 Airbus, the world's largest passenger aircraft, and Boeing's 787 Dreamliner. Some production staff are moved to Rotherham from Stocksbridge and a new scrap bay commissioned at Aldwarke.

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2007 - The site at Stocksbridge suffers from extensive flooding but the loss in output was kept to a minimum.

2008 - As the downturn takes affect, and demand falls, Corus reduces its crude steel production at their main European sites by up to 20%.

2009 - Cost saving initiatives are announced including extensive restructuring at the Rotherham site. Proposals lead to job reductions of around 700 at Aldwarke and 18 at Stocksbridge. The Aldwarke Primary Mill and Finishing Banks, and Large Bloom Caster are earmarked for closure.

2009 - Improved ingot facilities are commissioned at Aldwarke and a service centre opens in Suzhou, China.

2009 - The decline in steel demand in Europe and America continues and another restructure is announced, affecting another 400 jobs in Rotherham.

2010 - Riding the storm, Corus announces plans to recruit 160 new workers in South Yorkshire with 50 to support its manufacturing operation in Rotherham.

2010 - Plans announced to recruit a further 154 new workers for its South Yorkshire manufacturing operations. Apprentice and graduate recruitment resumes.

2010 - Corus sites in Rotherham adopt Tata Steel as its new identity. Tata Steel Speciality Steels is launched.

2010 - The European operations return to profit and Tata restructures some of the massive debt it took on to buy Corus.

2010 - To increase production of aerospace steels, a £6.5m investment plan for new high-tech equipment including two vacuum arc remelting furnaces at Stocksbridge is announced. A move that safeguards 2,000 jobs at Rotherham and Stocksbridge.

2011 - Demand for high value steel continues to increase prompting an increase in production and prices for South Yorkshire-made engineering bar and aerospace products.

2011 - Tata announce a £4.5m investment in South Yorkshire - £3.5m in its Rotherham operations (£2.5m at Aldwarke and £1m at the Thrybergh Bar Mill) to improve plant reliability and energy efficiency, reduce CO2 emissions and boost production of high-value steel products.

2011 - Away from South Yorkshire, Tata mothballs plants in Scunthorpe and Teeside.

2012 - Tata Steel opens a state-of-the-art engineering training centre at its Stocksbridge site as apprentice recruitment continues.

2012 - Low demand across the eurozone and higher raw material costs impact on the economic performance of Tata Steel in Europe. As well as cutting costs, a new strategy is announced to target demanding industries, like automotive, aerospace, mechanical engineering and construction.

2012 - Tata Speciality Steels opens an aerospace service centre in Xi'an, China to serve the growing demand for aerospace materials in the region.

2012 - Another restructure is announced following a significant decline in demand for bar steel products in a number of key markets, including automotive, bright conversion and bright bar. Tata Steel says it will lead to the loss of 135 jobs, including 110 in Rotherham.

2012 - At the same time Tata Steel's bar business is moved to Speciality Steel and a £2.75m investment is announced for the Rotherham operations so it can focus on supplying hi-tech products to advanced manufacturing sectors.

2012 - Tata Steel is announced as a partner in the £22m "Proving Factory" which aims to bridge the gap between small enterprises developing leading edge low carbon technology and large vehicle manufacturers. A centre at Rotherham is proposed.

2012 - Development underway on a new facility for the production of high-purity vacuum induction melted (VIM) steels for the aerospace industry at Stocksbridge.

2013 - National press reports state that Tata is planning to close its R&D site at Swinden Technology Centre in Rotherham.

2013 - Tata is forced to announce a $1.6 billion writedown on its assets, mainly on the European operations that suffered from a market slowdown and rising raw material prices since the Corus acquisition. A "strategic review of its asset portfolio" is underway.

2013 - Tata announces a £45m long-term export agreement to supply aerospace steels to Safran Group. Subsidiaries of which include Messier-Bugatti-Dowty, who chose Rotherham made steel for the landing gear of the Boeing 787 Dreamliner.

2013 - The company confirms it will build a Vacuum Induction Melting (VIM) furnace at Stocksbridge, an investment of £15m.

2013 - Investment in the Billet Mill at Stocksbridge saw two new Profile Gauges installed in the finishing line. A "Scrap Shredder" hammer mill is installed at Aldwarke which takes scrap from another Tata owned company, JLR at Hailwood.

2014 - A funding grant of £8m for R&D is announced but Tata admits that, after initial work takes place at the Swinden Labs site in Rotherham, its R&D operations could relocate to another UK site.

2014 - Financial results show a turnaround with an increase production, sales and overall performance, for its important European operations. Further work is done by the board in India to tackle debts of $7 billion.

2014 - The relocation away from the Swinden Technology Centre in Rotherham, where 150 staff are based, is confirmed as Tata announces a new R&D site at Warwick University. A residential development on the site is on the cards.

2015 - Community's "Stand up for Steel" campaign describes 2015 as "a critical year for the industry" and a strike threat looms after Tata Steel announced their intention to close the British Steel Pension Scheme (BSPS) to future accrual.

2015 - The European operations post a profit of £109.8m, a turnaround from the £16m loss in the previous year but "headwinds" remain in the European steel industry which is hit by an influx of cheap imports. The under-performing Long Products UK business is put up for sale.

2015 - A strike is suspended and the dispute ends after unions vote to accept changes to the pension scheme which will keep the scheme open, ending the prospect of the first steel strike in 30 years.

2015 - Building on the Proving Factory concept, a state-of-the-art Advanced Machining Centre (AMC) opens at Newburgh Precision's site in Rotherham. It enables Tata to work with customers from concept to finished component. A service centre opens in Nagpur, India.

2015 - Tata announces another restructure. The next stage in plans to refocus its speciality and bar business on high-value markets place 720 jobs at risk, around 500 in Rotherham. The bar business was hit by the strong pound and high electricity costs which were more than double those of key European competitors.

2015 - Rotherham hosts a "steel summit" where ministers, steel companies, MPs, unions and trade bodies discuss the challenges facing the global steel industry.

2016 - Funding is secured to support steelworkers under the threat of redundancy as a local taskforce coordinates support. Unions, workers, local MPs and Tata itself continue to call for more support from Government.

2016 - A shock announcement from the Indian-owned steelmaker after it concluded that it is exploring all options for portfolio restructuring including the potential sale of Tata Steel UK, in whole or in parts.

2016 - The Government said it has been working on finding a long-term sustainable future for steel making across the UK, with a significant focus on Tata's blast furnace at Port Talbot. Business minister Anna Soubry visits the South Yorkshire sites.

2016 - Liberty House emerges as a prospective buyer for the UK operations.

2016 - Tata Steel and the Serious Fraud Office (SFO) confirm that a criminal investigation has been launched at Speciality Steels in South Yorkshire after "inappropriate testing and certification procedures" were uncovered.

2016 - Interest is high in hand-picking the South Yorkshire operations from Tata Steel. Seven bids taken forward by the board. Reported suitors include Liberty House, Greybull, who took on assets in Scunthorpe; German giant, ThyssenKrupp; new company, Albion Steel, led by co-founders Dr Rod Beddows and Tony Pedder OBE; Excalibur Steel; India's JSW Steel Ltd; American firm, Nucor; China's Hebei Iron & Steel Group; and turnaround fund, Endless.

2016 - Union man Tom Blenkinsop, Labour MP for Middlesbrough South and East Cleveland, said he believed that Tata Steel may not have "completely left the field" despite putting all of its UK assets up for sale.

2016 - Tata confirms that it will begin a separate process for the potential sale of its Speciality Steels business. The main sale process is stopped whilst discussions take place with thyssenkrupp AG regarding a potential joint venture with a combination of strip products businesses.

2016 - Two bidders come forward for the Speciality Steels sites in South Yorkshire and are given access to due diligence and management meetings.

2016 - International industrials and metals group, Liberty House, confirms it has entered into exclusive negotiations with Tata Steel UK to acquire its Speciality Steels business for a total consideration of £100m.

2016 - An agreement with trade unions is reached and consultation starts with employees on a proposal to close the British Steel Pension Scheme to future accrual.

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2017 - The European operations are back in profit - posting £74m of earnings before tax (EBITDA) in the quarter ended December 31 2016. It reported a £90m loss during the same period in 2015.

2017 - Liberty House closes the £100m deal with Tata Steel.

2017 - Changes to the pension scheme are backed by the unions, who also secured a guarantee from Tata that commits Liberty House to honour the new defined contribution pension arrangements.

2017 - Tata officially hands over the South Yorkshire operations to Liberty House, who immediately announce a £20m investment, plans to take on 300 staff and increase production to over one million tonnes per annum at Rotherham where the current output is around 209,000 per year.

Bimlendra Jha, CEO of Tata Steel UK (pictured, right), said: "As a responsible owner, Tata Steel in the last couple of years has undertaken a transformation plan at Speciality Steels, including investing in a state-of-the-art vacuum induction melting furnace, to ensure the business can have a sustainable future.

"We thank the employees, trade unions and management of Speciality Steels for their diligent hard work in the journey to turn around the business in difficult times and we wish them a successful future under new ownership."

Certainly a mixed picture for Tata in South Yorkshire and the debate over the initial 2007 takeover deal are still being had.

Ousted Tata chairman Cyrus Mistry, said last year that: "It is common knowledge that the decision to acquire Corus for over $12 billion, when only a year earlier it was available at less than half that price, was based on one man's ego [Ratan Tata, former chairman of Tata Group] and against the reservations of some board members and senior executives. The overpayment made it harder to invest in the acquired assets which had been neglected, and thereby, placed many jobs at risk."

In response the Tata board said: "The acquisition of Corus Group Plc was based on the long term strategy of the company to pursue growth through international expansion and enhance the portfolio of value added products. The performance of Corus Plc post acquisition validated the strategy till the "black swan" event of the global financial crisis structurally impacted the underlying demand conditions in Europe causing financial hardship to the entire industry."

Whilst it carried significant debt following the deal, Tata Steel still invested £1.5 billion in its UK business since acquiring Corus in 2007. The Rotherham sites have come close a few times to shutting down completely but they are genuinely "world class" and their high value products are in demand.

Tata Steel Europe website
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News: Liberty House to invest in Rotherham steelworks

International industrials and metals group, Liberty House has formally completed the £100m deal to acquire the Speciality Steels division of Tata Steel UK and has announced that it will be creating around 300 new steel jobs in South Yorkshire.

The sale agreement covers several South Yorkshire-based assets including the electric arc steelworks and bar mill at Rotherham, the steel purifying facility in Stocksbridge and a mill in Brinsworth as well as service centres in Bolton and Wednesbury, UK, and in Suzhou and Xi'an, China.

Protecting the jobs of 1,700 existing staff, Liberty House also announced expansion plans expected to generate an additional 300 production jobs in the business with an investment of £20m in the first year.

Speciality Steels currently produces around 225,000 tonnes of steel and had a £210m turnover under Tata Steel Europe. It was its only Electric Arc Furnace (EAF) based business, specialising in carbon, alloy and stainless steels for demanding applications like aerospace, motorsports and oil and gas.

Liberty House is an international steel and non-ferrous metals group and has already taken on plants in Newport and Scotland. It also acquired parts of Caparo's advanced engineering products and precision strip businesses in the West Midlands.

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Liberty said it would invest up to £20m in new plant and equipment in the first year alone to "boost competitiveness and secure international market leadership for the business", which is being relaunched as Liberty Speciality Steels. The business will increase output substantially at the electric arc furnaces, casting shop and bar mill in Rotherham, with bigger plans across the wider Speciality business in the years ahead.

Production from the arc furnaces is expected to rise to over a million tonnes per annum and there are plans for the bar mill to roll over 400,000 tonnes a year. In addition the business will grow its position in the aerospace markets, utilising recent capital investments at Stocksbridge and investing in additional capacity and new technology.

Sanjeev Gupta, executive chairman of Liberty House said: "The Speciality Steels business is a global leader in its field, with a highly-skilled and well-motivated workforce and we are eager to invest so it can grow and achieve its full potential. Today marks a step change for the Liberty House Group because we are taking on strategically important capacity that will drive expansion in the years ahead. It will help us achieve our GREENSTEEL vision and facilitate investment in engineering products, thereby reducing the supply-chain gaps in the UK, especially in automotive and aerospace sectors.

"By investing to acquire Speciality Steels we are casting a big vote of confidence in the future of British industry. With the right business model and an innovative approach, the UK steel and engineering sectors can recover and thrive. The Government is now pursuing a new post-Brexit industrial strategy and steel must be at the heart of that strategy."

The GREENSTEEL vision promotes widespread melting and upcycling of UK domestic scrap metal, using arc furnaces powered from renewable energy sources. As part of the strategy, Liberty's sister company SIMEC is actively considering investment in bio-diesel power generation at Speciality Steel sites.

The Speciality Steels businesses is also expected to complement Liberty's engineering operations in the West Midlands which already use steel from these plants to make their precision products. Liberty will explore further downstream investment to make more extensive use of the products from Speciality Steels to boost manufacturing in the UK.

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Jon Bolton, chief executive of Liberty Speciality Steels, said: "Through increased output and improved positions in the UK, North American and EU markets, the business can improve its competitiveness and re-establish itself as a global force in the supply of engineering steels.

"We will be running the business with greater focus and a strong vision and will be capitalising on recent investment in state-of-the-art steel-making facilities to strengthen our position in technically-challenging markets. We are aiming to improve capacity utilisation and productivity for the benefit of the whole business. We are also in discussion with the trade unions on how we can work together to facilitate our ambitious growth plans."

Liberty House Group website

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News: Tata prepare housing plans for Swinden House site

Plans will go on show next week for a housing development at the Swinden Technology Centre (STC) site in Rotherham, soon to be vacated by Tata Steel.

The STC mainly focuses on product research and applications research for the transport, building and construction sectors but Tata considers that it is no longer a suitable home for the R&D arm and announced in 2014 that it is relocating research to Warwick University.

With Tata Steel's intention to leave the site, pre-application discussions with the Council have been taking place as the authority works on finalising its local plan - Rotherham's planning blueprint for the next 15 years.

Following an examination of the plan, the planning inspector agrees with the owner that the 6.65 hectare site on Moorgate should change from employment use to residential use. Rotherham Council had not initially included the site for residential use having not been consulted.

With change of use close to being signed off, Harris Lamb, the planning agents working on behalf of Tata Steel, are ready to unveil the latest plans at a public consultation event to be held at the Carlton Park Hotel on the afternoon of April 26.

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United Steels acquired the site in 1946 and in addition to research laboratories, it also includes Swinden House, the former home of Rotherham solicitor Thomas Badger, plus playing fields, tennis courts and orchards. The Grade II listed building, previously known as "Red House" was completed in around 1880. The site also includes Sitwell House, a late nineteenth century house that is not a listed building.

The facilities at STC were claimed to be, by the 1960s, one of the largest research organisations devoted to metallurgy in Europe but in 2014 Tata Steel considered them to be "no longer a suitable home to the research and development arm of Britain's second largest steel manufacturer."

Historic England have been consulted as part of the Council's consideration of this site and have raised no objection to the redevelopment of this site subject to the proposal complying with the guidelines identified in the proposed policy wording.

The site has the capacity for 219 dwellings. Outline planning permission was secured in 2004 for residential development and the conversion of Swinden House with plans showing around 100 houses on land off Beaconsfield Road and around the Victorian building - around a half of the site. Earlier plans included demolishing the lab buildings and building 190 dwellings and converting Swinden House and the stable building into flats.

Similarly, the latest plans are set to include demolishing the laboratory buildings and the conversion of the listed buildings.

Representations from Harris Lamb, state: "We can confirm that Tata Steel actively supports the proposed residential allocation of Swinden Technology Centre and that they remain committed to bringing this site forward in the short term. We remain of the view that the site is available, a suitable location and achievable."

Development could start within the next couple of years.

Indian-owned Tata Steel is close to concluding the sale of its Speciality Steels business for a total consideration of £100m. This includes the sites at Aldwarke, Brinsworth and Stocksbridge, but not STC.

As part of the task force set up when Tata announced a restructure and redundancies in South Yorkshire, talks were ongoing to relocate some of the R&D staff to the Advanced Manufacturing Park (AMP) across the borough.

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News: Top brass at Liberty Speciality Steels

Liberty House Group has launched its new Speciality Steels business and appointed some of the most prominent international metals industry figures to lead the operation.

In February the international industrials and metals group closed a deal with Tata Steel UK to acquire its Speciality Steels business for a total consideration of £100m.

The sale agreement covers several South Yorkshire-based assets including the electric arc steelworks and bar mill at Rotherham, the steel purifying facility in Stocksbridge and a mill in Brinsworth as well as service centres in Bolton and Wednesbury, UK, and in Suzhou and Xi'an, China.

Following the signing of a definitive agreement, the acquisition is expected to be completed in the near future, subject to the necessary regulatory approvals.

In anticipation, the management board designate of Liberty Speciality Steels will include Jon Bolton as chief executive, Peter Hogg as chief operations officer and Chris Kirby as chief financial officer.

Jon Bolton is currently chief executive of Liberty's plates and UK steel development, and chair of the employers' body UK Steel, Peter Hogg is moving from his role as director of long products maker, British Steel, while Chris Kirby joins the team following a number of years as a senior consultant to major international metals, mining and energy firms.

Jon Bolton (pictured) is one of the most widely-respected figures in the industry, jointly chairing the UK Steel Council – along with the Secretary of State for Business Energy and Industrial Strategy - and advising government regarding the sector.

A graduate in electrical engineering, he has over 30-years' experience in steel on both sides of the Atlantic, most of this in senior positions with Tata Steel and its predecessors Corus and British Steel. He was appointed to the board of directors at Sheffield Forgemasters International Ltd at the end of 2016. Jon is also known for his contribution to the development of new skills across the sector, particularly through the Industrial Cadets programme of which he is a founder and ambassador.

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Peter Hogg, is joining Liberty from British Steel, where he became a director at the company's inception in 2016, following a 25-year career that spanned top leadership roles in the sector across the world.

Since entering the industry as a Cambridge University engineering graduate in 1991, he has distinguished himself in a series of key manufacturing and commercial roles with Tata Steel UK and its predecessor companies. This included a period as managing director of Tata's Speciality Steels division.

The chartered engineer is also a member of the management board of UK Steel and has been a leading member of the industry team constructing a "steel sector deal" with the UK's Government’s department for Business, Energy and Industrial Strategy.

Chris Kirby is a chartered accountant with over 30 years' experience of senior financial management internationally, including 25 years in the mining and metals industry with publicly-listed and privately-owned companies, most recently Ma'aden Aluminium, the largest integrated aluminium manufacturing complex in the world. Cambridge MA graduate Chris was also group financial controller with Toronto- based copper, nickel and precious metals producer Vale Inco.

The three men will play a key role in finalising the transfer of the Tata Steel UK's Speciality business to Liberty over the coming weeks and in implementing a new plan to take the business forward, building its markets in the UK and across the world.

Sanjeev Gupta, executive chairman of the Liberty House Group, said: "Speciality Steels will play a pivotal role in achieving our over-arching GREENSTEEL vision and we are appointing a management team of the highest calibre to lead this crucial operation. The business will provide us with very significant melting capacity and will also make the high-grade steel we need for our advanced engineering operations. We’re very excited to have such talented people at the helm."

Liberty's GREENSTEEL vision promotes widespread melting and upcycling of UK domestic scrap metal, using arc furnaces powered from renewable energy sources.

As part of the strategy, Liberty has said that the Tata business has the capability to make around 1.1m tonnes of liquid steel per year from recycled scrap, melted in two electric arc furnaces at Aldwarke in Rotherham. This steel feeds downstream casting, re-melting and rolling processes, producing a range of high-value steels.

Liberty House website

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News: Budget call for steel support

John Healey MP has called on the Government to pledge support for the steel industry in this week's Budget.

Last month, the Wentworth and Dearne MP, whose constituency covers Tata Steel's Aldwarke plant, welcomed an agreement for Tata to sell their South Yorkshire Specialty Steels operation to Liberty House Group.

But he said Government support was needed and he has called on the Industry Minister Nick Hurd (pictured, right with Liberty's Sanjeev Gupta) to ensure backing for the steel industry is in the Budget. The call comes after leaked Brexit documents showed that the Government considered the steel industry to be a lower priority when it comes to the impact of leaving the EU.

In the build up to the EU referendum, Healey, and others, argued that leaving the EU would not help the UK steel industry. Access to the EU market is seen as fundamental to Tata Steel's UK business.

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In his latest letter to the Minister of State at the Department for Business, Energy and Industrial Strategy, John said: "UK steel-making is a foundation for much of our wider world-class British manufacturing and no modern country can flourish without steel as one of its strategic industries.

"So there is a strong case for government action on steel, and this is a case I have made to Ministers many times in recent years.

"I trust in the Budget next month that the government will finally bring in the support that Ministers have talked about for our steel industry."

Recommended reading: How Brexit Has Impacted Entrepreneurship in the UK

The MP wants a "buy-British bias" in big Government projects and for them to take action on energy costs, business rates and skills and research funding.

Mr Healey said that, since the National Steel Summit in Rotherham in November 2015, there had been "an unprecedented unity of views" from industry senior executives, trade union leaders and MPs of all parties – but there was little mention of steel in the Prime Minister’s industrial strategy.

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News: Tata Steel union workers back pension proposals

Union members at Tata Steel sites in the UK, including in South Yorkshire, have voted to accept a proposal to close the British Steel Pension Scheme (BSPS) to future accrual.

The Speciality Steel sites in South Yorkshire are set to be sold after Liberty House closed a deal with Tata Steel UK to acquire the business for a total consideration of £100m. The new owners will need to honour the new pension arrangements as part of the deal.

Last year, the Government launched a consultation on changes to the pension scheme - the huge pension liability with a reported £700m deficit that was seen as a deal-breaker for prospective buyers of Tata Steel's UK assets.

The consultation followed intense discussions between Tata Steel, the UK government, the pension scheme trustees and regulators to find the best option for members of the scheme.

Eight months after Tata announced their original intention to sell its UK steel assets, the firm made a commitment to secure the future of jobs and production at Port Talbot and other steelworks across the UK.

The ballot paper set out that the company's proposals to secure a sustainable future for the UK business. Key elements include £1 billion of investment over ten years, a commitment to running the blast furnaces at Port Talbot, an employment pact offering protection against compulsory redundancies, and the introduction of a Defined Contribution Pension Scheme, with maximum employer contributions of 10%, following the closure of the BSPS to future accrual.

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The assurances are conditional on a sustainable solution for the BSPS, Tata Steel UK remaining solvent, and no industrial action in connection with the proposal.

Trade unions also secured a guarantee from Tata that commits Liberty House to honour the new defined contribution pension arrangements. This means that under a new owner, union members in Speciality Steels would be entitled to the same pension arrangements as members in Tata Steel UK, with employer contributions of up to 10%.

Members of the Community Union voted 72.1% to accept the proposals, with members at Unite, 75.6% in favour. GMB members voting yes came in at 74.0%.

Roy Rickhuss, general secretary of Community, said: "This result provides a mandate from our members to move forward in our discussions with Tata and find a sustainable solution for the British Steel Pension Scheme.

"Steelworkers have taken a tough decision and have shown they are determined to safeguard jobs and secure the long-term future of steelmaking. Nobody wanted to be in this situation, but as we have always said, it is vital that we now work together to protect the benefits already accrued and prevent the BSPS from free-falling into the PPF [Pension Protection Fund]."

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News: Tata sale welcomed

The £100m deal between Liberty House and Tata Steel UK for the Speciality Steels business has been welcomed.

Following a period of due diligence, the sale agreement has been signed and covers several South Yorkshire-based assets including the electric arc steelworks and bar mill at Aldwarke and a mill in Brinsworth, both in Rotherham, and the steel purifying facility in Stocksbridge in Sheffield.

John Healey MP, whose Wentworth and Dearne constituency includes the Aldwarke site, said: "It's great news to get the thumbs up from the Tata board for this sale. It should be a big step in securing steel-making in South Yorkshire for the long-term. Liberty House have pledged the investment, jobs and marketing that can continue Specialty Steel's success.

"2016 was an awful year of job cuts and uncertainty in Tata but the sale agreement means steel-workers and their families can start to see light at the end of the tunnel during 2017.

"Now I urge both Tata and Liberty to work flat out, with the unions, to complete the sale and restore confidence in our Rotherham and Stocksbridge steel plants.

"We will also press the Prime Minister make good on her promise of a new industrial strategy. It's high time that Ministers followed their warm words with action to help our UK steel industry on energy costs, business rates, skills funding and a strong buy-British bias in big government projects. This would be a clear signal to the world that UK steel has a strong future, whatever the economic uncertainties that Brexit brings."

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Roy Rickhuss, general secretary of Community, the steelworkers' union said that the sale was "a welcome step forward in securing the future of the Speciality Steels business but added: "However, this is not the end of the process and there is still work to do before the sale is completed. Community has been campaigning for months for longer-term certainty for these highly skilled jobs and we will now engage more directly with Liberty to understand their plan for the business.

"The steelworkers concerned produce some of the world's most advanced steel products and we will need to be convinced this sale is in their best interests. We also need to see the government do more to help support the future of Speciality Steels and create an environment in which the whole UK steel industry can survive and grow.

"We are continuing to ballot our members in Speciality Steels over the future of the British Steel Pension Scheme and proposed alternative pension arrangements, which, should our members vote to accept the proposals, would transfer over as part of their terms and conditions once a sale is completed."

Liberty House website

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News: £100m Tata Steel - Liberty House deal done

International industrials and metals group, Liberty House, has closed a deal with Tata Steel UK to acquire its Speciality Steels business for a total consideration of £100m.

The sale agreement covers several South Yorkshire-based assets including the electric arc steelworks and bar mill at Rotherham, the steel purifying facility in Stocksbridge and a mill in Brinsworth as well as service centres in Bolton and Wednesbury, UK, and in Suzhou and Xi'an, China.

The deal secures the future of around 1,700 jobs directly, and thousands more in the supply chain and regional economy. The sale follows an extensive due diligence period, after the parties entered exclusive discussions in November 2016.

It will make Liberty one of the largest steel and engineering employers in the UK with more than 4,000 workers at plants located across Britain's industrial heartlands.

Liberty, whioch is pioneering its GREENSTEEL stratety, said that the Tata business has the capability to make around 1.1m tonnes of liquid steel per year from recycled scrap, melted in two electric arc furnaces at Aldwarke in Rotherham. This steel feeds downstream casting, re-melting and rolling processes, producing a range of high-value steels.

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Sanjeev Gupta, executive chairman of the Liberty House Group said: "I am proud that we are acquiring a world-class business with a very skilled workforce and broad range of high-value products. It is one of only a handful of such operations in the world and I am confident it will flourish within our group. Fulfilling the next key stage of our GREENSTEEL vision is incredibly exciting. We will now be able to melt scrap steel to create high-value-added products and I hope that, in due course, we will do so using renewable power.

"In the very week that Liberty is celebrating its 25th anniversary, I am delighted to welcome many hundreds more members to the Liberty family. We are grateful for the support from all stakeholders in achieving this deal, including the employees, unions and advisers."

Business Secretary Greg Clark added: "Acquiring Tata's Speciality Steels business in South Yorkshire and West Midlands, which manufactures high quality steel for some of the UK’s world leading industries such as aerospace and automotive is a great opportunity for Liberty House. I look forward to hearing more about their expansion plans which secures skilled jobs at the business into the future.

"We want to work with the steel industry on proposals to transform and upgrade their sector as part of the modern Industrial Strategy so we can build on our strengths and extend excellence into the future."

in March last year , Indian-owned Tata Steel concluded that it was exploring all options for portfolio restructuring including the potential sale of Tata Steel UK, in whole or in parts. Following a board meeting in July, the steelmaker decided on a separate process for the potential sale of its Speciality Steels business.

Bimlendra Jha, CEO of Tata Steel UK, said: "This is good news for Speciality Steels and for Tata Steel’s core business in the UK. For Speciality Steels, which is largely independent of our European strip products supply chain, this is an important step forward in securing a future for the business under new ownership. Today's news also marks another important step forward in realising a more sustainable future for our Port Talbot-based supply chain in the UK."

Liberty House website
Tata Steel website

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News: Tata Steel returns to profit in Europe

Tata Steel Ltd reported its first profit in five quarters, largely driven by strong performance from Indian operations, but with the European operation back in profit.

The European operations posted £74m of earnings before tax (EBITDA) in the quarter ended December 31 2016. This compares with a £90m loss during the same period last year.

European EBITDA had turned around from negative 6% in the previous year to positive margin of 5% during this quarter. Tata said that the financial performance reflects strong underlying operating performance across the group inspite of a seasonally slow quarter in Europe.

Overall, Tata reported a consolidated net profit of £27.8m for the three months, an increase on the big losses of last year.

Spearheaded by a focus on high value sectors such as aerospace and oil & gas at the South Yorkshire specialist steel sites, the proportion of total sales from differentiated products in Europe has risen to over 35% and their value rising by almost 30% year on year.

Hans Fischer, MD & CEO of Tata Steel in Europe, said: "Our European strategy continues to be focused on developing differentiated products and services which improve our customers' competitiveness. Sales of differentiated products were +13% higher and their value-add almost 30% higher than a year ago, with stronger sales in the automotive and construction sectors.

"This helped us to achieve an EBITDA in the third quarter of Rs. 610 crore, though this was lower than the sequential quarter due to higher raw material and energy costs. Our third-quarter EBITDA result was significantly better than the loss recorded in the previous year partly due to better market conditions and the weakness of the pound relative to the Euro.

"We are continuing to focus on improving our competitive performance in the context of the global supply-demand imbalance which held deliveries steady from European mills in the nine months to September despite growth in EU demand."

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Last year, Tata Steel concluded that it was exploring all options for portfolio restructuring including the potential sale of Tata Steel UK, in whole or in parts. Following a board meeting in July, the steelmaker decided on a separate process for the potential sale of its Speciality Steels business, which until recently employed over 2,000 people at sites like Aldwarke in Rotherham and Stocksbridge in Sheffield.

Liberty House and Tata Steel announced in November that a letter of intent had been signed and that they expect the acquisition of the speciality steel business in its entirety, including the two businesses in Rotherham (at Aldwarke and Brinsworth Strip Mill), to complete early in the first quarter of 2017.

Tata Steel also reached an agreement with the trade unions to progress towards the closure of its defined benefit pension scheme to future accrual, seen as important step towards a more sustainable future. Ballot on the scheme is currently open with unions backing the proposals.

Koushik Chatterjee, group executive director (Finance and Corporate) at Tata Steel said: "The strategic initiatives in the UK on the pensions continue to be an important priority for the Company and we welcome the Unions recommendation to its members to support the ballot process that is currently on to close the BSPS to future accruals. This is part of the several steps being undertaken to make the UK business more sustainable in the future. We continue to be deeply engaged with the British Steel Pension Trustees and the Regulator towards developing a structural solution for the UK pensions in the coming months."

Tata Steel Europe website

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