India's TATA wants to sell UK's Port Talbot Steel Plant

[arista]

Decide They Must

With so much Money
lost this UK Plant

How can TATA afford to keep it going?

This is Not a Government Issue
over 3,000 workers are still there.


Meanwhile in Scotland
LibertyGlobal are Re opening
Steel plants
http://news.sky.com/story/1666370/mothballed-steel-plants-to-reopen-after-deal

[smudgie]

Just hoping "Brokered a deal" doesn't mean they get massive grants then beggar off after a year or so...not that that has ever been done before:fist:
Good luck to them, every little helps, but the Steel Industry in Britain is finished as we know it.
Hubby has been with them man and boy..since it was actually British Steel.
he has been waiting for his firm to shut up shop for 6 months or so now, just a question of talks with Tata to get stuff ironed out.
He will leave work at the end of June. Thankfully he gets a decent redundancy package and he can also take a very early retirement, but the rest of the workforce, including his younger brother can't, it's these men and their families I feel for, on top of all the rest of firms going under it looks bleak on the job front for them.

[Kizzy]

Good news for your hubby smudge but like you say an uncertain future for the younger guys in that industry :(

[smudgie]

Good news for your hubby smudge but like you say an uncertain future for the younger guys in that industry :(

Absolutely Kizzy, my heart weeps when I think of what a great Steel Industry Britain had.
We have just managed to bring our plans for an early retirement forward a bit.
A few of the men have sorted new jobs out, taking pay cuts and more travelling etc, but the majority are going to find it pretty tough for a while.

[arista]

Tata Considers Selling UK Steel Operation

But who wants a Loss Making Industry?

Its the EU Fault - all are saying
This has be going on for 30 years

http://news.sky.com/story/1669193/tata-considers-selling-uk-steel-operation

[Tata Steel has confirmed it is looking into selling its
entire UK steel operation, casting doubt over the future
of at least 15,000 steelworkers across the UK.]

[Cherie]

Just hoping "Brokered a deal" doesn't mean they get massive grants then beggar off after a year or so...not that that has ever been done before:fist:
Good luck to them, every little helps, but the Steel Industry in Britain is finished as we know it.
Hubby has been with them man and boy..since it was actually British Steel.
he has been waiting for his firm to shut up shop for 6 months or so now, just a question of talks with Tata to get stuff ironed out.
He will leave work at the end of June. Thankfully he gets a decent redundancy package and he can also take a very early retirement, but the rest of the workforce, including his younger brother can't, it's these men and their families I feel for, on top of all the rest of firms going under it looks bleak on the job front for them.


Heartbreaking, so many gave been in the industry for most of their lives and are too young to retire but who will take them on


Tata Considers Selling UK Steel Operation

But who wants a Loss Making Industry?

Its the EU Fault - all are saying
This has be going on for 30 years

http://news.sky.com/story/1669193/tata-considers-selling-uk-steel-operation

[Tata Steel has confirmed it is looking into selling its
entire UK steel operation, casting doubt over the future
of at least 15,000 steelworkers across the UK.]

I wondered who would buy it as well, unless they think the government will bail it out like the did the banks.....

[arista]

Heartbreaking, so many gave been in the industry for most of their lives and are too young to retire but who will take them on




I wondered who would buy it as well, unless they think the government will bail it out like the did the banks.....

Its Not Viable
Sadly

[arista]

Corbyn wants Parliament brought back.
because the Steel Sale


I bet he does, wasting our time

[arista]

Feck me
that Horrible Labour Woman MP Eagle
says the PM Must return from his Holiday


Why
what can he do?


Fecking Labour
http://i2.liverpoolecho.co.uk/incoming/article10174555.ece/ALTERNATES/s615/JS73272767.jpg

http://www.sajidjavid.com/
Right you Feckers Labour
Sajid is on his was way Home
Official Business Visit Down Under Cut Short

[arista]

Now Dave
is flying back to London
with a Downing Street Meeting
Tomorrow morning.

[arista]

The Labour Leader
Live on SkyNewsHD
just said The Government must own
the UK Steel Industry for now.

But it Losing Millions of pounds each day?
how man Billions does JC want spent?


And PM is Not calling Parliament back on Monday
that I agree with.

Labour would make it into a election Issue
so fecking wait until the 11th of April.

Also Andrew Neal of Daily Politics BBC2HD
is not due back in the UK until its broadcast time

[Braden]

Really sad to hear this.

My dad works for TATA and loves his job. The current government have never been supportive of the steel industry. I'll be interested to hear David Cameron's response to this.

[arista]

Really sad to hear this.

My dad works for TATA and loves his job. The current government have never been supportive of the steel industry. I'll be interested to hear David Cameron's response to this.



Yes the PM must say whats he going to do?

Question Braden : can they keep paying around
One Million Pounds a day ,to keep it alive?
I think over many years its above Billions?

Not Joking
will it be above what Bankers Stole from us?
When it was New Labour in Power


Respect to your Dad
I hope the Pressure does not hit him harder

http://media.skynews.com/media/images/generated/2016/3/30/456049/default/v0/financial-times-1-992x558.jpg



Sign Of The Times

[arista]

GMBHD itv
pointed out the Under New Labour Brown
Ed Milliband brought in the
Climate Change Act
making our Energy Costs Higher than
other nations.
Thats when so many deals went for China
who have Low Energy costs.

Parliament will not be recalled on Fecking Labours say so


What a Feck Up

[Kizzy]

Haha they're trying to pin this on climate change legislation? Idiots.

[arista]

The PM
is not doing the Labour party Demand.

Meanwhile a Buyer Liberty House (Bought a Scottish Division)
will only want the Steel Work Plants doing well.
Thats Total Logic.

No Company can take over a Dead Industry
due to lack of backing.


Ref: Bloomberg, SkyNewsHD, BBC AM Business Report

[Braden]

Thank you, arista :)

My dad is currently asking the same question. He's aware that the Port Talbot plant is losing around £1million a day, so it's not very likely that someone would want to buy that business. There could be a small bit of hope since he works at a smaller plant. But it's very much up in the air at the moment. Scary times.

[arista]

Thank you, arista :)

My dad is currently asking the same question. He's aware that the Port Talbot plant is losing around £1million a day, so it's not very likely that someone would want to buy that business. There could be a small bit of hope since he works at a smaller plant. But it's very much up in the air at the moment. Scary times.


I hope your Dad does carry on
in a smaller plant.

Scary , sadly true Braden.

[arista]

http://media.skynews.com/media/images/generated/2016/4/1/456443/default/v1/javid-at-port-talbot-1-736x414.jpg
The Business Secretary Sajid Javid
rushed to Port Talbot.

Some Workers liked what he said
but warned it means nothing
if nothing is done fast.

http://news.sky.com/story/1670701/business-sec-steel-absolutely-vital-to-uk

[DemolitionRed]

The Conservative show of dashing home to look after the British steel industry is just smoke and mirrors. Savid Javid was fully aware it was being collapsed by subsidised and dumped Chinese imports, but argued that this cheap Chinese steel was beneficial to the UK economy more generally. Arguing against higher EU tariffs on Chinese steel dumping, Javid stated to MPs only six weeks ago.

“The responsibility of government is to look at the overall impact on British industry and jobs,” the Business Secretary said.

“If duties get disproportionate it would have an impact in Britain and elsewhere on consumers of steel. Those businesses tell us it will cost jobs and exports if duties got out of control…

“To go further might in the short term look the right way to go to protect industry but you have to remember in Britain there are also companies that consume steel as part of the production process.”

This is pure Thatcherism. On Javid’s instruction, last year the British diplomatic mission to the EU (UKREP Brussels) was lobbying the EU commission against higher punitive tariffs on Chinese steel than the 13% the UK supported – even though the Commission found that dumped Chinese steel had an effective state subsidy of up to 72%. I have this from a British diplomatic source.
https://www.craigmurray.org.uk/archives/2016/03/tories-deliberately-collapsed-british-steel/

Astonishing isn’t it? If anything is going to be Camerons downfall, its going to be this.

[joeysteele]

Sajid Javid far from rushed home and should have been here really for the upcoming TATA meeting if not getting himself over to that in the first place.

He has in fact been shamed into going to Port Talbot.
I feel sorry for Anna Soubry,I really believe she would like to do everything and anything to save the steel industry in the UK.

However this Business secretary and likely Chancellor too as to the issue leave much to be desired as to their real commitment.

[smudgie]

The Steel industry in Britain has been dying on its feet for years.
Losing billions not millions over the last few years.
Tata, like SSI and others have gven it a good try, but there comes a time you have to pull the plug.
Are the British taxpayer really happy to lose millions of pounds on a daily/weekly basis for a cause that has no future?
Had this happened after the referendum and had we come out of the EU and able to make our own laws it might have stood a chance, providing of course industry would be dictated to and told British Steel for British infrastructure.
Coming from a steel working family I don't want the government to try and bail it out. Not just the loss of money to make the steel but the massive pension pot bills would be a nightmare, then the clean up costs that will come after it all goes under would be astronomical.
Tata should pick up the bill, they have been in talks for months trying to get out of clean up penalty clauses with the firm hubby works for, no doubt there will be others as well. £50 million or more for small clean ups, heaven knows what it will cost to shut the Talbot works
Such a shame for it all to end this way:bawling:

[arista]

Sajid Javid far from rushed home and should have been here really for the upcoming TATA meeting if not getting himself over to that in the first place.

He has in fact been shamed into going to Port Talbot.
I feel sorry for Anna Soubry,I really believe she would like to do everything and anything to save the steel industry in the UK.

However this Business secretary and likely Chancellor too as to the issue leave much to be desired as to their real commitment.


No he rushed from Down Under
a official trip there , and his daughter.

More Job loses
look like they are soon to happen.

[arista]

http://media.skynews.com/media/images/generated/2016/4/1/456477/default/v5/times-front-page-with-slate-1-992x558.jpg
China will now put Big Tarrifs
on any UK imported Steel
to ensure locals use China Steel.

[Kizzy]

Good! yey fantastic :) hopefully now the govt will have to save British steel?

Interesting to see Mr good old keep Britain British has ballsed up.


http://www.independent.co.uk/news/uk/politics/nigel-farage-accused-of-hypocrisy-over-vote-against-eu-law-that-could-have-helped-british-steel-a6964476.html

And the govt are lying through their teeth as usual

http://www.thecanary.co/2016/04/01/biggest-test-2016-far-cameron-failed-miserably-images/

[arista]

http://ichef.bbci.co.uk/news/624/cpsprodpb/3313/production/_89057031_mail3.jpg

[smudgie]

http://ichef.bbci.co.uk/news/624/cpsprodpb/3313/production/_89057031_mail3.jpg

Ahh, so what about the 90 billion pension fund then.
Much much more losses than the mere million a day to be taken into account.
If there was a buyer on the horizon then short term nationalisation could be used as a scking plaster, but you have to wonder where this buyer is coming from, and more miraculously how they would/could turn it all around.:shrug:

[Kizzy]

Germany, No wonder the mail don't want to say that the EU is coming to the rescue. Best to maintain the deflection, keep the anti aid pressure on.

http://www.theguardian.com/uk-news/2016/apr/02/port-talbot-steel-german-tata-thyssenkrupp

[arista]

"short term nationalisation"


Not going to happen

Tata Steel in Norway is making Profits
as is a New Plant


Old Port Talbot -- no buyer wants
the 2 buyers want the smaller plants.


sadly thats the place we are at.

Ref: Marr BBC1HD, SkyNewsHD, Bloomberg, CNBC

[smudgie]

"short term nationalisation"


Not going to happen

Tata Steel in Norway is making Profits
as is a New Plant


Old Port Talbot -- no buyer wants
the 2 buyers want the smaller plants.


sadly thats the place we are at.

Ref: Marr BBC1HD, SkyNewsHD, Bloomberg, CNBC

Yes Arista...no buyer wants the old plants, they cost too much to bring them up to date to fit with all the new regulations and health and safety.
We might end up with no steel, families might have to live on fresh air..but at least the air will be fresher.:fist:

[arista]

Liberty House CEO (Sanjeev Gupta)
is now saying
he will take the whole of Tata Steel UK over
so longs as he gets the Energy Deal Discounts ?

Some of his plans do not add up, as
we are under EU Rules on this mess

Ref : BBC AM

[Livia]

The government has taken a lot of criticism over this, and quite rightly. And yet... the Forth Bridge in Scotland is being funded by the Scottish Parliament and built with Chinese steel. No word from Sturgeon on this yet though?

[Kizzy]

'Tata Steel has sold its Long Products Europe business, including its Scunthorpe plant, to investment firm Greybull Capital for a token £1 or €1.
The move will safeguard more than 4,000 jobs, but workers are being asked to accept a pay cut and less generous pension arrangements.
Greybull said it was arranging a £400m investment package as part of the deal.
The business will be rebranded as "British Steel" once the deal is completed in eight weeks, it said.
The new business would include the Scunthorpe works, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, a mill in Hayange, France, and sales and distribution facilities.'

http://www.bbc.co.uk/news/business-36015797

[the truth]

are they able to actually produce steel? I doubt it

[arista]

'Tata Steel has sold its Long Products Europe business, including its Scunthorpe plant, to investment firm Greybull Capital for a token £1 or €1.
The move will safeguard more than 4,000 jobs, but workers are being asked to accept a pay cut and less generous pension arrangements.
Greybull said it was arranging a £400m investment package as part of the deal.
The business will be rebranded as "British Steel" once the deal is completed in eight weeks, it said.
The new business would include the Scunthorpe works, two mills in Teesside, an engineering workshop in Workington, a design consultancy in York, a mill in Hayange, France, and sales and distribution facilities.'

http://www.bbc.co.uk/news/business-36015797



Yes Good News for Scunthorpe

But they Must take the Pay Cut
to keep their jobs

Capital Global have said.