British Steel poised to move back into profit after takeover deal

British Steel poised to move back into profit after takeover deal
 

A company which has revived the British Steel brand on Teesside has said it is on track to return the business to profit this financial year.
The firm marked 100 days since the deal by announcing it had completed the first stage of its turnaround plan which includes efficiency and cost-cutting measures, 270 new employees and a £50m capital investment.
The company was launched in June after former owner Tata Steel sold its steelworks in Scunthorpe, Lincolnshire, as well as sites in Teesside , Workington and York, to turnaround specialist Greybull Capital.
British Steel said that suppliers... read more

 
29 September 2016 in Regional North East, Views: 38
Source: Gazette Live
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