1,700 jobs to go as Corus mothballs plant
Steelmaker Corus has confirmed it will curtail production at its Teesside Cast Products factory, putting 1,700 people out of work.
It had been announced in May that the 150-year-old Redcar plant was to be mothballed.
The plant had been at risk since a 10-year deal suddenly fell through.
Business Secretary Lord Mandelson expressed his disappointment, saying it would be a "very difficult time for the workforce".
The deal that had fallen through was signed by an international consortium, led by Italian steel specialists Marcegaglia, in 2004, and committed the consortium to buy just under 78% of the Redcar plant’s production.
BBC North East business correspondent Ian Reeve said the factory would close by the end of January.
Corus said that 1,700 jobs would go, which is about 600 fewer than had been previously thought.
Full article at BBC News
Posted: December 4th, 2009 under Steel, Steel News.
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