Steel Strip

Staff at two of Corus’ main UK plants have agreed to see their pay cut by as much as 11.5% as a result of a reduction in shift premiums.
The move will affect 1,000 workers at the firm’s Scunthorpe steelworks, and 400 at its facility on Teesside.
Corus said that while basic wages were unaffected, staff [...]

 
As a committed believer in the importance of manufacturing in the UK, and someone who has been involved for many years in the supply of steel to the auto industry, I find myself in a quandary over this.
It is being widely reported that Tata (the owners of the car group), are in talks with the [...]

TOKYO, Dec 16 (Reuters) - Toyota Motor Corp plans to ask Nippon Steel Corp and other steelmakers for a price cut of about 30 percent in light of slower steel and vehicle demand, the Nikkei business daily reported on Tuesday.
The global financial crisis has hammered demand for cars and the raw materials used to build [...]

According to report from Bloomberg, Corus spokesman Bob Jones, based in London, said today in an e-mailed response to questions, the the stories are completely false.
Read the report at Bloomberg.com: India & Pakistan
Technorati Tags: Corus,Tata

Philippe Varin, the chief executive of Corus, is threatening to shift the steelmaker’s European operations to China unless regulations governing carbon emissions are overhauled.
Mr Varin warned that politicians had to help fund new clean-energy technologies or face the prospect of Corus quitting the UK and Europe.
Corus employs around 25,000 workers in the UK [...]

(Reuters) - India’s Tata Steel  is to merge its British unit Corus, formerly known as British Steel, in a cost-cutting move that could threaten thousands of UK jobs, a British Sunday newspaper reported.
The proposed merger next year would result in the creation of the world’s second biggest steel maker after ArcelorMittal , according to a [...]

By Steve James
NEW YORK, Dec 12 (Reuters) - The steel industry, already reeling from an economic slowdown that has forced production cutbacks, would suffer a devastating blow if the Big Three U.S. auto companies declared bankruptcy or went out of business altogether, analysts said on Friday.
"If the auto companies go, there will be a cascading [...]

The $14bn dollar bail out plan for the US automotive industry has failed to get enough support in the Senate.
The rescue plan collapsed after the Republican support failed to materialise when demands for the auto workers union to accept swift wage cuts was not met.
The news brought a sharp fall in share prices in Japan, [...]

 Meps are reporting on the dire situation in the European steel market
We are witnessing unprecedented steel market conditions. As mill order books collapsed, the steel makers were left with substantial amounts of part and fully-finished products. Consequently, there have been very few forward orders and most deals in the last two months have been supplied [...]

Workers at steelmaker Corus are reported to have offered to take a 10% pay cut to preserve their jobs.
Three unions representing about 25,000 staff have come up with the proposal to accept less cash for six months, according to the Financial Times.
But fears remain that the Llanwern site in Newport, south Wales, will close [...]