Metalnewsnet 6 May ：

BS reported that TATA Steel’s European arm, Corus has appointed Citibank to help find a suitable buyer for its beleaguered Teesside Cast Products factory in northeast Britain.

However, the company refused to comment on speculation about Bangkok based Sahaviriya Steel Industries being one of the parties Corus is in talks with.

Since April 2009, when the TCP plant entered a troubled phase it was finally decided to mothball it in February 2010 this is the first time a possible buyer with a name has emerged in the public domain.

Last year, a group of steel buyers had withdrawn halfway from a 10 year buying contract, jeopardizing nearly 1,700 jobs.

Though TATA Steel and Corus have consistently claimed they were exploring a buyer for the plant as a possible long-term solution, no development has taken place till now.

(from BS)