It is reported that Corus has hired Citigroup to sell its partially mothballed Teesside cast steel products plant in northeast England and is currently in negotiations with Thailand based steel group Sahaviriya Steel Industries PCL.

Corus said last week that it continues to engage with potential investors and remains open to offers for Teesside after Community Union said SSI representatives had visited Teesside.

Sources said that the talks are at an early stage and there is no certainty a deal will be reached. One difficulty is that SSI may find it hard to integrate Teesside with its other operations.

(Sourced from MarketWatch)