[arista]

Originally Posted by Kizzy

'Tata Steel has sold its Long Products Europe business, including its Scunthorpe plant, to investment firm Greybull Capital for a token £1 or €1.
The move will safeguard more than 4,000 jobs, but workers are being asked to accept a pay cut and less generous pension arrangements.
Greybull said it was arranging a £400m investment package as part of the deal.
The business will be rebranded as "British Steel" once the deal is completed in eight weeks, it said.
The new business would include the Scunthorpe works, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, a mill in Hayange, France, and sales and distribution facilities.'

http://www.bbc.co.uk/news/business-36015797

Yes Good News for Scunthorpe

But they Must take the Pay Cut
to keep their jobs

Capital Global have said.