Relief for steelworkers as £100m sale of Stocksbridge and Rotherham plants finally agreed

Tata Steel today confirmed the long-awaited deal to sell its speciality business to Liberty House Group for £100 million.

Liberty House executive chairman Sanjeev Gupta said he was confident the ‘world class’ business would ‘flourish’.

The 1,700 staff based at Tata’s Stocksbridge and Rotherham plants have been working under a cloud of uncertainty since the international firm announced plans to sell its UK business in March.

But yesterday’s news was greeted positively by many of those who have campaigned to save South Yorkshire jobs.

Wentworth and Dearne MP John Healey said it was a ‘big step in securing steel-making in South Yorkshire for the long-term’.

“Liberty House have pledged the investment, jobs and marketing that can continue speciality steel’s success,” he said.

“2016 was an awful year of job cuts and uncertainty in Tata but the sale agreement means steelworkers and their families can start to see light at the end of the tunnel during 2017.”

Penistone and Stocksbridge MP Angela Smith added: "The purchase will make Liberty one of the largest steel and engineering employers in the UK, with more than 4,000 workers at plants located across Britain’s industrial heartlands.

"This will mean South Yorkshire remains at the centre of high value steel making and that high value jobs remain in the area.”

Sheffield Chamber of Commerce executive director Richard Wright urged Liberty House to take a ‘long term approach’.