Tata Steel has finaly signed an agreement to sell certain assets of Teesside Cast Products to Sahaviriya Steel Industries UK Limited (SSI), a subsidiary of Thailand�s largest steel producer, in a deal which values the business at $469 million. This has to be good news for Teesside � and will hopefully lead to the resumption of steelmaking at TCP, the deal has been wlecomed by the UK Business Secretary, Vince Cable MP. TATA were forced to partially mothball the plant almost exactly a year ago after the international consortium of offtakers had illegally broken their contract to buy the bulk of the plant�s output. Since then, TATA have pursued all possible avenues to secure a viable long-term future for TCP. SSI had demonstrated a very positive approach throughout the negotiations and the signed agreement commits Tata Steel and SSI to work towards completion of the transaction. The assets covered by the sale include the Redcar blast furnace, the Lackenby steelmaking and casting facilities, the Redcar and South Bank coke ovens, TCP�s power generation facilities and sinter plant. The deal will also result in Tata Steel and SSI entering into a joint venture to operate Redcar Wharf (TCP�s bulk terminal), giving Tata Steel the flexibility to use Teesside to serve its other steelmaking operations, while also meeting SSI�s requirements on Teesside. Ever since the consortium walked away from its agreement in April 2009, TATA had made it their number one priority to secure a successful, sustainable future for the plant. The announcement is said to be very encouraging for Tata Steel, for SSI, and for the highly skilled and dedicated local workforce. It validates the promise made almost two years ago to do everything possible to find a long-term solution for TCP. Tata Steel will continue to operate two large-diameter tube mills in Hartlepool, the Skinningrove special sections mill, Teesside Beam Mill and Teesside Technology Centre which employ more than 1,800 people.