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Tata Steel plans to shut down two loss-making blast furnaces at its steelworks in Port Talbot, after final yr securing authorities financing to convert the historic website in Wales right into a manufacturing hub for recycled metal.
The steelmaker on Friday mentioned the choice will have an effect on up to 2,800 employees, and is designed to reverse greater than a decade of losses on the plant.The extensively anticipated transfer comes after it reached a take care of the UK authorities for 500 million kilos ($636 million) in funding to help its transition to making metal in electrical arc furnaces.
While considerably greener than coal-fired furnaces, the brand new course of can be a lot much less labour-intensive. Port Talbot’s blast furnaces and coke ovens are anticipated to be decommissioned this yr, and Tata expects 2,500 roles to be impacted inside the subsequent 18 months.
Unions had hoped to preserve one of many furnaces operating in the course of the transition, however the firm mentioned doing so would not be possible due to the heavy losses concerned in operating the crops.Tata’s British steelmaking operations have struggled for years to flip a revenue.
The steelmaker on Friday mentioned the choice will have an effect on up to 2,800 employees, and is designed to reverse greater than a decade of losses on the plant.The extensively anticipated transfer comes after it reached a take care of the UK authorities for 500 million kilos ($636 million) in funding to help its transition to making metal in electrical arc furnaces.
While considerably greener than coal-fired furnaces, the brand new course of can be a lot much less labour-intensive. Port Talbot’s blast furnaces and coke ovens are anticipated to be decommissioned this yr, and Tata expects 2,500 roles to be impacted inside the subsequent 18 months.
Unions had hoped to preserve one of many furnaces operating in the course of the transition, however the firm mentioned doing so would not be possible due to the heavy losses concerned in operating the crops.Tata’s British steelmaking operations have struggled for years to flip a revenue.
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