The memorandum covers several UK-based assets including TSUK's Scunthorpe steelworks, mills in Teesside and northern France, an engineering workshop in Workington, a design consultancy in York and associated distribution facilities.

The task will also include Scottish mills in Dalzell and Clydebridge, which are currently being mothballed, the filing said.

Tata Steel Europe's Chief Executive Karl Koehler said: "This is an extremely critical time for the whole industry, and we have been working hard to explore all options that could provide a future for the Long Products Europe business."

The long products business in Europe manufactures plates, sections, wire rod and semi-finished steel for different markets, including construction, ship-building & engineering, energy and wire drawers.

In the meantime, TSUK and Long Products Europe business will continue to work closely with customers to deliver high-quality products, Koehler said.

Earlier last month, Tata Steel had said sell its Long Products Europe business by the end of the current financial year ending March 2016.

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