The British Steel brand has been revived following the completion of a deal in which Tata Steel sold its long products business to Greybull Capital.
Greybull, an investment firm, paid a nominal £1 for the business, which makes products such as railway tracks and steel used in construction.
The deal will safeguard more than 4,000 jobs as well as restore the British Steel name. The sale includes the steelworks in Scunthorpe, Lincolnshire, and sites in Teesside, Workington and York. The brand of the former state-owned industry disappeared in 1999 with the creation of Corus, which Tata bought in 2007.
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