Steel firm rescued by Saudi company

AOL Money Staff
Thamesteel
Thamesteel

A steel firm which went into administration earlier this year with the loss of more than 350 jobs has been bought by a Saudi Arabian company and production will resume, it has been announced.


Thamesteel, at Sheerness on the Isle of Sheppey, Kent, has been sold out of administration to a new company owned by the Al-Tuwairqi Group (ATG).