June 29, 2017 6:14 AM ET

Metals and Mining

Company Overview of Tata Steel UK Limited

Company Overview

Tata Steel UK Limited manufactures, processes, and distributes steel products. The company was incorporated in 1988 and is based in London, United Kingdom. Tata Steel UK Limited operates as a subsidiary of Tata Steel Europe Limited.

30 Millbank

London,  SW1P 4WY

United Kingdom

Founded in 1988

Phone:

44 20 7717 4444

Fax:

44 20 7717 4455

Key Executives for Tata Steel UK Limited

Chief Executive Officer
Age: 60
Compensation as of Fiscal Year 2016.

Tata Steel UK Limited Key Developments

Liberty House Mulls Acquisition Of Tata Steel's Specialty Steels Business

Liberty House Limited is in talks to acquire the specialty steels business from Tata Steel UK Limited. Sanjeev Gupta, the Executive Chairman of Liberty House recently stated that the companies are "very close" to closing the deal. Gupta also revealed plans to list his steel business in the United States, revealing talks to acquire a steel-related business in the UAE.

Tata Steel UK Reaches Agreement with the Trade Unions to Progress Towards the Closure of its Defined Benefit Pension Scheme

Tata Steel UK reached an agreement with trade unions on a number of proposals that would structurally reduce risks and help secure a more sustainable future for its UK business. The company will next week start consultation with its employees on a proposal to close the British Steel Pension Scheme to future accrual. Employees would be offered a competitive defined contribution scheme. The proposal on pensions and other changes in the employment terms are part of the ongoing transformation plan that the business is undertaking. The company and trade unions have also agreed on the principle that subject to the structural de-risking and de-linking of the British Steel Pension Scheme fund from the business, the company will continue the existing blast furnace configuration in Port Talbot until 2021. Further, based on achieving the necessary financial performance and cash flows as per the transformation plan of the UK business, the company will continue to invest across the UK sites to enhance the competitive position of Tata Steel UK in the European steel industry. The company has also offered an employment pact until 2021 which supports employees through future changes by investing in their skills to support further plant upgrades, automation and other digital initiatives.

Tata Steel UK Ltd. and BIMobject AB Sign Development Agreement

BIMobject AB and Tata Steel UK Ltd. announced that they have signed a development agreement with BIMobject. The agreement enables the two companies to work together in developing new tools for the advancement of data delivery for Building Information Modelling (BIM). The technology will allow data to be applied to products across the virtual construction world, providing greater flexibility to designers and enabling data to be used for a multitude of purposes within the built environment. Tata Steel use IBM solutions for its PIM (Product Information Management) system, which in combination with the BIMobject Cloud Platform which uses IBM Softlayer (including IBM Bluemix) creates exciting opportunities to improve data integrity. These capabilities significantly strengthen the single source of truth between PIM and BIM, by streamlining data access and information flows between the two data sets.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 1, 2017
Redcar Bulk Terminal Ltd
Merger/Acquisition
November 28, 2016
Tata Steel UK Limited, Speciality Steels business
 

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