This is probably the last thing UK steelworkers wanted to hear today.
As many as 15,000 workers are facing an uncertain future after Indias Tata Steel last night confirmed plans to put its embattled UK business up for sale.
Tata said late on Tuesday that it is looking at strategic alternatives for its UK business, which owns the vast steelworks at Port Talbot in south Wales. This process involves exploring all options for portfolio restructuring, including the potential divestment of Tata Steel UK, in whole or in parts, Tata said.
While that means anxiety for the companys employees in the UK as they await to find out whether they still have a job, credit ratings agency Standard & Poors said Tatas plans to restructure its British o…
Read the full article at: http://www.ft.com/fastft/2016/03/30/tatas-plan-to-restructure-uk-business-credit-positive-sp/