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Tuesday, March 29, 2016

Tata Plans To Sell Entire UK Steel Operation

Tata Steel is due to announce that it plans to sell its entire UK steel operation, Sky sources say.
The news casts doubt over the future of at least 15,000 steelworkers across the UK.
Union leaders have been in Mumbai, India, where the Tata board has met to discuss the company's loss-making UK business.
They had been hoping Tata would agree a plan to keep steelmaking in Port Talbot and other UK plants.
Other plants that will be affected include Rotherham, Corby and Shotton.
Tata announced more than 1,000 job cutsin January, including 750 at Port Talbot in south Wales.
Thousands of steel jobs have been lost in the last year, with companies blaming cheap Chinese imports and high energy costs.
Barrie Evans, from the Community union, urged Tata to be a "responsible seller".
He told Sky News: "We will fight for this plant, we know with support we can make it profitable.
"We urge any buyer who is looking at us to back us and stick with us and we will make it profitable."
Labour MP Stephen Kinnock, who is with union delegates in India, had urged Tata to "hold its nerve" in the face of the problems it was facing.
Mr Kinnock was also critical of the Government for not sending a minister to lobby the Tata meeting.
Plaid Cymru leader Leanne Wood tweeted: "If reports from Mumbai are true, it's devastating. @Plaid--Cymru wants Assembly recall. All must work together now to save our steel industry."
Labour leader Jeremy Corbyn said he was "deeply concerned" by the news and called on the Government to intervene "to protect UK jobs and British manufacturing".
This was echoed by David Hulse, national officer of the GMB union, who claimed Tata had "let the whole of the UK steel industry down".
He said: "The plan that was presented to the board deserved to be given time to see if the market improved and it just goes to show what we have thought for a long time, that Tata wanted out and have misled everyone.
"Our members have done everything that has been asked of them and, just when it was needed, Tata lost their nerve."
Unite general secretary Len McCluskey said workers will "feel a grim sense of betrayal" and said he would be seeking a meeting with the Government "as a matter of urgency in order that steps to save our steel are taken by Government without delay".

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