Thursday, 27 August 2015

Tata Steel to mothball Wales plant as tough markets persist

Tata Steel to mothball Wales plant as tough markets persist
Tata Steel, Britain's largest steelmaker, said on Wednesday it will mothball a plant in south Wales as tough markets persist, forcing the company to focus on higher-value products.
Europe's second-largest steelmaker after Arcelor Mittal said it will redeploy employees at the plant in Llanwern, Newport, which makes strip products used in autos, construction, domestic goods and packaging, although British press reports said the company will cut 250 jobs.
The move comes only a month after Tata said it may cut up to 720 British jobs, mainly at Rotherham in northern England, in a revamp of its speciality and bar business, which has been hit by cheap imports and high energy costs Nifty levels, nifty market trend,
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