Monday, November 29, 1999

UK`s Corus hires Citi to sell Teesside mill - paper

News posted by www.newsinfoline.com

Steelmaker Corus, owned by India's Tata Steel, has hired Citi to sell its mothballed Teesside plant in northern England and is already in talks with Thailand's SSI, the Sunday Times reported.Corus started a partial closure of the Teesside plant, one of the largest employers in the area, in February after failing to secure a long-term partner for the site's output.The newspaper quoted sources close to the talks as saying negotiations with Sahaviriya Steel Industries (SSI), a Thai steel group, were at an early stage and there was no certainty a deal would be reached.Citi and Corus were not immediately available for comment.(Reporting by Clara Ferreira-Marques; Editing by Erica Billingham)
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