Corus steel in £291m deal with SSI

A Teesside steel plant has been sold for £291m after months of negotiations.

Thai company SSI has signed the deal over Tata Steel's Teesside Cast Products (TCP), securing the future of the plant's 700-strong workforce.

The sale comes a year after the Redcar plant was partially mothballed after a major contract fell through.

Unions and politicians say they hope hundreds of new jobs will be created.