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Phillipe Varin (right), the Chief Executive of the steel giant Corus, at the company's offices in central London. Troubled steel giant Corus is expected to outline how it intends to raise the 250 million needed for restructuring its UK business. The group, which has axed 10, 000 jobs since forming from the merger of British Steel and Dutch firm Hoogovens in 1999, is likely to include a disposal plan as part of the fund-raising exercise. Analysts expect the steel group's non-core US activities to be put up for sale, although Corus's Teesside site, which employs around 2, 000 people, may also be included in any disposal programme. Earlier this year, Corus announced it intended to reposition Teesside as a stand-alone unit following heavy losses across the UK arm.
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