Heritage Steel Industry Has Been Taken Over By Thailand Based Company

Heritage Steel Industry Has Been Taken Over By Thailand Based Company

History was created when Thailand based gigantic steel company SSI, has ultimately taken over the 150-year-old Teesside Cast Products plant (TCP).

As per the company sources, this takeover process started long time back and after many important legal process now the takeover has been officially confirmed. This is a momentous achievement by the SSI.

Two years back, TCP faced a major setback, when an important deal was not concluded. A group of buyers walked away from that particular deal and that incident eventually endangered the company’s future. This incident led to loss of job for more than 1,000 employees of the company. There was a serious outburst of public anger, ultimately political interference helped the situation to get back to normal.

The President of SSI, Win Viriyaprapaikit, was elated after receiving the key in a ceremony which took place at the Redcar blast furnace. He said that this is time for big celebration, as they have taken over a hugely prestigious organization. This indent will take place in the history.

He added that the deal has been concluded after immense hard work. He expressed his sympathy for the local people who experienced adverse situation since the TCP get into trouble. As maximum of them were dependent on that steel industry that faced acute financial constraint. But now there will be a new beginning for all.