Corus invests another £12m in Teesside Cast Products

Corus has invested £12m at Teesside Cast Products (TCP) in the first phase of the US$100m investment programme aimed at securing international competitiveness.

The investment, part of the ten-year offtake agreement announced in December 2004, is targeted at enhancing product quality to meet the specific requirements of the TCP’s consortium members and will also focus on improving efficiency to support the production of a competitive product.

There are a number of projects in both the steelmaking and Ironmaking operations with the most significant at the Redcar Blast Furnace and the Continuous Casting plant. These projects will be carried out during 2005 and 2006.

Jon Bolton, managing director of Teesside Cast Products, said: "This demonstrates the committment of our consortium partners and Corus to the business and to production at Teesside."