Jaycey

African Refugee
Top Poster Of Month
Tata Steel to sell off entire British business
Tata Steel to sell off entire British business

Tata Steel is set to pull out of all its UK operations, including Port Talbot, in a move that could put thousands of jobs at risk.

The company announced late on Tuesday night that its board had rejected an “unaffordable” turnaround plan for Port Talbot and instead given the green light to a sale of its UK business.

The move will affect roughly 15,000 workers and comprises the sites that used to make up British Steel and then-Corus, which was bought by Tata Steel in 2007.

Port Talbot is Britain’s biggest steelworks and employs 4,000 people. However, it is losing £1m a day, making the prospect of finding a buyer difficult.

Tata Steel to sell off entire British business | Business | The Guardian
 

Spurs

Spurs
Tata Steel to sell off entire British business
The US tariff on Chinese steel is set at 224%, the EUs tariff on Chinese steel is 24%. The US is protecting its industry, the EU as per are destroying theirs.
I don't know about destroying Port Talbot, it could well destroy Wales.
 

Spurs

Spurs
Tata Steel to sell off entire British business
I think what this ar$ehole meant to say was, "its against EU rules".
People need to grasp what's going on here, thousands about to go out of work & Wales blitzed, it really is a piss poor show for the Welsh AND the rest of the UK. Keep the place going at least until the referendum....................
Only been to Wales twice...............but FFS they are us!!

Tata Steel: 'Nationalisation not the answer' says Javid - BBC News
 

evo80

Member
Tata Steel to sell off entire British business
Got a soft spot for Wales .Used to Truck there' a lot in the 70s/80s.Had many a good time in Neath ,near Port Talbot.
 

bal canavar

“Je suis l'humanité.”
Tata Steel to sell off entire British business
Is Roman Abramovich still getting his Loan from the UK govt to help the Canadian steel industry ??

As posted
http://www.turkishliving.com/forums/news-views/80773-british-steel.html

He is worth £5.2billion, owns Chelsea FC and has a 557ft super yacht worth £1.5billion : So why is the British taxpayer loaning Roman Abramovich £45million to help upgrade a steel plant in Canada?
 
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Spurs

Spurs
Tata Steel to sell off entire British business
Perhaps because its (Canada) is outside of the EU. Seems to me the EU is quite happy putting the cosh on Member States to help industries beyond the EU borders but not inside of them.
 

yalimart

The Carnwath Massive
Tata Steel to sell off entire British business
It may be best sold off cheaply to a group of old Etonians and their friends so they can sell the order book on at a huge profit, the Chinese are laying 1000s off themselves, I'm sure they would be grateful of the extra business.

Martin
 

Spurs

Spurs
Tata Steel to sell off entire British business
It may be best sold off cheaply to a group of old Etonians and their friends so they can sell the order book on at a huge profit, the Chinese are laying 1000s off themselves, I'm sure they would be grateful of the extra business.

Martin

The sad thing is Martin people don't see the decline that goes on in these towns & cities once industries like this go. Sorry we do, usually on Channel Four in Benefits Street, showing once hard grafters beg, stealing or borrowing to survive..............thinking they can live the life they used to. I would imagine plenty of skilled workers will be lost................so much for "we need a skilled workforce".
 

Akasya

Postless Pointer
Tata Steel to sell off entire British business
We can find Billions to bail out badly managed and over extended bankers , and then sell them the debt back cheaply , at pence in the pound , whilst they pay themselves grossly inflated salaries and " Mad Men style " bonuses , but for the steelworkers , it's tough mate , world wide conditions , Chinese friends dumping steel at below production costs , the question we need to answer is " who will be employing ex MP's on huge salaries in the future " , i politely suggest it will not be businesses based in Port Talbot or Scunthorpe.

Steve
 

Spurs

Spurs
Tata Steel to sell off entire British business
The huge Land Rover plant is near me also owned by Tata, I can just imagine what would happen to this area if it went down the pan, I think there's over 20,000 who work there plus those involved in the spin offs.

A bad time for the Welsh & our government has sat back on this. Seems everyone knew it was coming, I am surprised that it was a "no show" for any UK Ministers at the meeting in India. I wonder what would have happened if this plant was in Kent or Surrey ect?
 

Jaycey

African Refugee
Top Poster Of Month
Tata Steel to sell off entire British business
Tata tried to turn the tables on Britain. It failed

“Thousands of steelworkers’ jobs are threatened as Indian company Tata threatens to walk away from its loss-making business in the UK. The move is causing shockwaves over the health of Britain’s manufacturing industry; but it is also a strong indicator of changing political and economic winds in India…

Tata tried to turn the tables on Britain. It failed | Jayati Ghosh | Opinion | The Guardian


As MP for Port Talbot, I believe Brexit would be disastrous for British steel

“On Tuesday Tata Steel announced its intention to sell the entire Strip Products division of its UK steel business, including the Port Talbot works in my Aberavon constituency.

It is impossible to overstate the importance of the Tata Steel announcement, on both local and national levels. Locally, the Port Talbot plant is the beating heart of the community and economy, and nationally steel is a vital foundation industry: it is fundamental to the cars that we drive, the homes in which we live, the offices in which we work, and the bridges that we cross. Just under 11,000 men and women are directly employed by Tata Steel Strip Products division, and once you take supply chains into account that number rises to around 40,000 jobs…

As MP for Port Talbot, I believe Brexit would be disastrous for British steel | Stephen Kinnock | Opinion | The Guardian
 

Spurs

Spurs
Tata Steel to sell off entire British business
Tata tried to turn the tables on Britain. It failed

“Thousands of steelworkers’ jobs are threatened as Indian company Tata threatens to walk away from its loss-making business in the UK. The move is causing shockwaves over the health of Britain’s manufacturing industry; but it is also a strong indicator of changing political and economic winds in India…

Tata tried to turn the tables on Britain. It failed | Jayati Ghosh | Opinion | The Guardian


As MP for Port Talbot, I believe Brexit would be disastrous for British steel

“On Tuesday Tata Steel announced its intention to sell the entire Strip Products division of its UK steel business, including the Port Talbot works in my Aberavon constituency.

It is impossible to overstate the importance of the Tata Steel announcement, on both local and national levels. Locally, the Port Talbot plant is the beating heart of the community and economy, and nationally steel is a vital foundation industry: it is fundamental to the cars that we drive, the homes in which we live, the offices in which we work, and the bridges that we cross. Just under 11,000 men and women are directly employed by Tata Steel Strip Products division, and once you take supply chains into account that number rises to around 40,000 jobs…

As MP for Port Talbot, I believe Brexit would be disastrous for British steel | Stephen Kinnock | Opinion | The Guardian

AAAAAAAGGGGGHHHHHHHH its a Kinnock, bit late now to say it would be disastrous for British steel if a Brexit.................its a disaster already, Middleborough & Scunthorpe should tell him that. So I don't see Brexit helping one way or another. The Government either steps in or Port Talbot vanishes.
Obviously he wants to follow his parents on the EU gravy train (made in China).
 

JanetClarke

JanetClarke
Tata Steel to sell off entire British business
Britain sacrifices steel industry to curry favour with China

Osborne's love affair with China.......

'What we know is that the British Government has for the last three years been blocking efforts by the EU to equip itself with the sort of anti dumping weaponry used by Washington to confront China.
The EU trade directorate has been rendered toothless by a British veto.
So much for the canard that the UK has no influence in Brussels.'
 
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yalimart

The Carnwath Massive
Tata Steel to sell off entire British business
Britain sacrifices steel industry to curry favour with China

Osborne's love affair with China.......

'What we know is that the British Government has for the last three years been blocking efforts by the EU to equip itself with the sort of anti dumping weaponry used by Washington to confront China.
The EU trade directorate has been rendered toothless by a British veto.
So much for the canard that the UK has no influence in Brussels.'

It would certainly be interesting to know if their was a relationship between steel users and the government, any tarrifs applied by Brussels would increase costs here for manufacturers, less profit less party sponsorship maybe. I know, Im a cynic.

Martin
 

akbukowl

Member
Tata Steel to sell off entire British business
I think what this ar$ehole meant to say was, "its against EU rules".
People need to grasp what's going on here, thousands about to go out of work & Wales blitzed, it really is a piss poor show for the Welsh AND the rest of the UK. Keep the place going at least until the referendum....................
Only been to Wales twice...............but FFS they are us!!

Tata Steel: 'Nationalisation not the answer' says Javid - BBC News

It was the UK that voted against the Tarriff proposals suggested by the EU
 

Hunt 23

Member
Tata Steel to sell off entire British business
12932794_528438207327371_2109967239369950066_n.jpg
 

tintagel

Member
Tata Steel to sell off entire British business
My understanding is that GB is not allowed (by EU Directives) to nationalise any industry, or be seen to give an unfair financial advantage over other EU Industry's or businesses.

UK Gov did vote against raising the tariff on Chinese Steel within the EU block; If the UK leave the EU & our Steel industry is kept alive, it could disadvantage us initially.

Outside the EU we can rescue our Steel works (& others). Indian company's are interested in buying our Steel plants, I believe they've already bought a few, there are many profitable uses to which they can be put, apparently.....

As Cameron is backing the Stay group, I imagine this is more of his/their (EU) smoke & mirror games! They worked so well in the Scottish in/out referendum & last years UK Election................

"State aid

The EU Commissioner in charge of competition policy Margrethe Vestager summed up the rules earlier this year.

She said: "EU countries and the Commission have put in place strict safeguards against state aid to rescue and restructure steel companies in difficulty.

"This avoids harmful subsidy races between EU countries and that uncontrolled state aid in one EU country can unfairly put at risk thousands of jobs across the EU", adding: "EU state aid rules enable member states to for example support research activities or relieve energy costs of steel companies".

Whilst it is technically true that outside the EU the UK government would be free to nationalise and subsidise the steel industry, it seems highly unlikely that a Conservative government would want to permanently re-nationalise such a loss-making business."

UK steel industry and the EU debate - BBC News
 

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