Acquisitions in the field of software and pharmaceuticals dominated the Indian march across UK and Europe in recent months.
Tata Steel completes sale of UK mills
The UK’s Liberty House Group has completed the purchase of two pipe mills from Tata Steel UK in north-east England.
Liberty, which is part of the GFG Alliance, had signed a provisional agreement to acquire the units at Hartlepool last month and appointed top steel pipe specialist, James Annal, to head the new pipe and tube division. Sanjeev Gupta, the executive chairman of Liberty House, said the deal marked his group’s plans to play a key role in the global oil and gas pipeline sector.
He said: “This is an important first step in our ambition to become a world leader in energy pipe and we are already looking at plants in other countries. The acquisition of this high-calibre business and its skilled workforce gives us the basis to upgrade the liquid steel production facilities we’re buying at Whyalla, South Australia, and our plate mills at Dalzell and Clydebridge in Scotland to make high-value-added API grade plates that can be rolled at Hartlepool to supply pipeline projects worldwide.
“This fully-integrated value chain will make us a world leader in this field and help showcase Britain's engineering prowess in supplying a world-class highly-engineered product.”
Liberty has said it intends to rebuild the previously struggling operation at Hartlepool, adding around 100 new jobs to the existing 140-strong workforce.
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