Tata Steel Europe sells business

Tata Steel Europe announced that it has signed a business purchase agreement with William King Limited to sell Firsteel's assets. Last May, the company announced it was looking for a buyer for Walsall, UK-based Firsteel and its associated business units. The sale is considered part of Tata Steel's strategy to exit non-core businesses to focus on strategic products and related markets, the company said in a press release.

The acquisition of the assets of William King Limited, a renowned family-owned service center, will ensure a better and most sustainable future for Firsteel and its nearly 50 employees. Firsteel's assets complement William King's operations, which primarily include supply to a variety of sectors including automotive, home appliances, metal packaging and construction. By the way, Firsteel is a leading manufacturer of coated steel bakeware.

In a further development, Tata Steel announced that it was the first steel company in the world to receive approval for the Environmental Product Declaration (EPD) Program. Consequently, the company is now able to provide its customers and supply chain partners with transparent environmental data on all of its building products and building systems. The approval also allows him to provide clear reporting on his steel-based products and enhance the sustainability of steel throughout its entire life cycle.