Tata Steel UK has ramped up its efforts to sell its beleaguered arm here which includes two factories in the Black Country.
The firm, which is part of Indian conglomerate and Jaguar Land Rover owner Tata, has appointed Bimlendra Jha to the newly created role of UK chief executive while Tata Steel Europe has appointed Standard Chartered bank as an additional adviser on the deal.
Tata Steel UK runs a coated narrow strip plant in Walsall and a factory in Wednesbury where it makes bright bar which together employ in the region of 1,000 staff while supporting thousands of more West Midlands jobs in the supply chain.
It is looking to offload its UK sites after suffering losses in here to a number of factors including high energy costs and global oversupply of steel.
Tata Steel said that, since the sale process officially started on April 11, its advisers had "reached out" to 190 potential financial and industrial investors worldwide.
Mr Jha is currently executive chairman of Tata Steel Europe's 'Long Products Europe' business and has already led the divestment process that resulted in the signing of a deal with Greybull Capital earlier this month for its factory in Scunthorpe.
Standard Chartered bank has also been appointed as an additional adviser, to work alongside financial services firm KPMG, in order to expand the reach out to potential buyers, especially to Asia and the Far East.
Koushik Chatterjee, group executive director of Tata Steel, said: "Today's announcement will ensure the full focus on the vital tasks that lie ahead of Tata Steel UK.
"Bimlendra's successful experience of the process of divestment of Long Products Europe will be invaluable as Tata Steel Europe explores strategic alternatives for its operations in the UK.
"He will be supported by a team with immense operating experience of the UK business.
"To deliver greater clarity for all key stakeholders such as employees, customers and suppliers, it is important for the new team to seek all credible options in a time bound manner."