French deal to save 400 British Steel jobs
HUNDREDS of British Steel jobs have been saved after a French firm snapped up a subsidiary of the embattled UK business.
TSP Projects has been sold to France’s transport and engineering firm Systra by the Official Receiver in a move that will save around 400 jobs.Credit: EPACraig Scott, TSP’s boss, said: "Systra ownership will bring with it all the benefits of a global engineering business, including access to high-calibre technical expertise to complement and enhance TSP Projects."
Pascal Mercier, Systra's chief executive, added: “This acquisition is a game changer for our UK and Ireland business, placing us among the leading UK consulting engineering firms. “This is a good fit between two like-minded companies with a shared commitment to excellence, safety and innovation.”Credit: PA:Press Association
The announcement was made on Friday by the Official Receiver, who has been managing British Steel sinceBritish Steel went into liquidation after Greybull Capital, which bought the stricken firm for £1 in 2016, failedIt looks set to be salvaged as the Government provided a support package worth up to £300million to a
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