STEEL chiefs have reiterated their plans to focus on high-quality products after announcing their latest results.
Tata Steel, which has a giant site in Brenda Road in Hartlepool, has posted its performance for the quarter ending in June this year.
They show turnover stood at £2.3billion for Tata Steel Europe compared to £2.2billion in the previous quarter, but sales fell by 4.9 per cent compared to the fourth quarter of the previous financial year.
Tata Steel Europe managing director and chief executive Dr Karl-Ulrich Köhler said: “European steel demand is lower than expected and prices have weakened. We continue to seek to mitigate the effects of this with tight cost control and emphasis on increased product differentiation.”
Tata Steel’s Hartlepool plant, which employs 700 people, won two contracts in May, one to provide 214 miles of pipe, and the other to supply 48,000 tonnes of steel pipe for an oil pipeline for the Lucius Development Project, both in the Gulf of Mexico.