The most common and most likely answer to this crossword clue is the 4 letter word TATA
I've seen this crossword clue in The Guardian
T
A
T
A
Buddy explains!
The straight part
We know that "Farewell/Farewell/ steel company /steel company" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case farewell/farewell/ steel company /steel company = tata.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does TATA mean?
TATA interjection- Goodbye.
- Breast.