The British Steel name is to be resurrected after Tata Steel last night completed the sale of its European long products business to Greybull Capital, safeguarding thousands of jobs. As part of the deal the business, which employs 4,800 people in the UK, most of them at its giant Scunthorpe works, above, will be renamed British Steel. The Scunthorpe business is separate from the rest of Tata’s UK operations for which it is seeking a buyer amid wrangling over a £700 million deficit in A statement from the Indian group confirmed the change of ownership and the change of name.

Source: The Times May 31, 2016 23:12 UTC