Advertisement

Boss of UK steelmaker Caparo dies in fall from London home

LONDON (Reuters) - Angad Paul, the chief executive of steelmaker Caparo which went into administration last month, has died in a fall from his home in London, a company spokesman said on Monday. Police said they were called on Sunday to reports of a man in his mid 40s falling from a height in central London where he was pronounced dead. The incident is not being treated as suspicious although enquiries continue, London's Metropolitan police said in a statement. Formal identification has yet to take place. The company spokesman confirmed Paul's death but declined to elaborate. Administrators were appointed to 16 companies within the Caparo Industries Group, a Midlands and London headquartered diversified industrial group, on Oct. 19. PricewaterhouseCoopers (PwC) later said that over 450 jobs would go at the firm but that it was still trying to find buyers for other parts of the group. Producing steel profitably in Britain has become increasingly difficult due to cheap imports, particularly from China, a strong currency, lacklustre demand, plus energy costs and "green" taxes on heavy industry that are some of the highest in the world. (Reporting By Costas Pitas; editing by Stephen Addison)