Tata Steel Europe Sells Coated Steel Bakeware Business to William King Limited
Tata Steel Europe announced that it has signed a Business Purchase Agreement with William King Limited towards sale of Firsteel assets. The company had announced in May last year that it was in search of a buyer for Walsall, UK-based Firsteel and related business units. The sale is considered to be part of Tata Steel’s strategy to exit from non-core businesses in order to focus on strategic strip products and related markets, said the company press release.
The purchase of the assets by William King- a reputed family-run service centre will ensure best and most sustainable future for Firsteel and nearly 50 employees. The Firsteel assets complement William King’s operations which primarily comprises of supplies to various sectors including automotive, domestic appliance, metal packaging and construction. Incidentally, Firsteel is a leading manufacturer of coated steel bakeware.
In another development, Tata Steel announced that it has become the world’s first steel company to receive approval to operate an Environmental Product Declaration (EPD) Programme. Consequently, the company has now gained the ability to provide its customers and supply chain partners with transparent environmental data on all its construction products and construction systems. The approval also makes it able to deliver clear reporting of its steel-based products and reinforce the sustainability of steel through its life-cycle.
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