‘UK Govt Pre­vented Wales Unit Clo­sure’

The Economic Times - - Companies -

The UK gov­ern­ment has se­cured a "re­prieve" from Tata Steel to save thou­sands of jobs at its loss-mak­ing Port Tal­bot steel­works in Wales, UK busi­ness sec­re­tary Sa­jid Javid said. "Tata con­tacted me sev­eral weeks ago to warn they were plan­ning to sell parts of their busi­ness but they were plan­ning im­me­di­ate clo­sure of their Port Tal­bot site. Thanks to the ground­work laid by my team... we were able to secure a re­prieve while a buyer is be­ing found," Javid told the House of Com­mons dur­ing an emer­gency de­bate on the on­go­ing steel in­dus­try crisis in the coun­try. —Reuters

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