February 16, 2010 / 1:49 PM / 10 years ago

Tata Steel to mothball Teesside plant by end of week

MUMBAI, Feb 16 (Reuters) - India’s Tata Steel Ltd (TISC.BO), the world’s No. 8 steel maker, will mothball its Teesside plant in the UK by the end of this week, a top company official said on Tuesday.

The company also expects 80 percent capacity utilisation in Europe in the current quarter, Kirby Adams, head of Tata Steel Europe, told reporters.

Earlier, Tata Steel posted a 42 percent fall in consolidated quarterly profit as operations of European unit Corus and lower prices weighed, but beat market expectations. [ID:nBMA007003] (Reporting by Prashant Mehra)

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