START-UP ALBION STEEL IS A POTENTIAL BUYER FOR TATA'S SOUTH YORKSHIRE

A start-up steel company led by former Master Cutler Tony Pedder has been revealed as a potential buyer for Tata’s South Yorkshire operations.

Albion Steel has confirmed its interest in Speciality Steels - which employs more than 2,000 in Rotherham and Stocksbridge.

The company was set-up to establish a new steel plant employing 200 people using ‘direct strip casting’ in the UK for the first time. It is an advanced process for making steel that uses far less power and requires less space than a traditional steel mill.

Albion has been seeking investment and a potential site since its launch last year.