Crisis as consortium abandoned deal
The news brings the prospect of a happy ending to a saga which started last year when the consortium of Marcegaglia of Italy, South Korea's Dongkuk, Switzerland's Duferco and Alvory of Argentina walked away nearly five years into a 10-year deal to buy most of the plant's output.
Corus chief executive Kirby Adams said the company was continuing to take legal action against the four-nation consortium that pulled out of the contract last year, and he expected a successful resolution in the next six months.
He also complained that criticism he had faced this year over the future of the Teesside site was “unfair”, saying the plant sale process had been complex.