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Port Talbot management 'in steelworks takeover bid'

There are reports of a potential management buyout of the steelworks in Port Talbot. It's understood Stuart Wilkie, Managing Director of Tata Strip Products UK, is heading up a buying team alongside other staff members.

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Sanjeev Gupta outlines proposal to shut one Port Talbot blast furnace and 'optimise' the second

The potential new buyer for the Tata steelworks in Port Talbot has reaffirmed his commitment to keeping all staff and retraining them.

Sanjeev Gupta says he will shut one blast furnace and "optimise" the way the newer furnace currently operates.

Mr Gupta spoke to reporters at the Liberty Steel site in Newport Credit: Carole Green

"I don't think you can just turn off blast furnaces and say ok its done. It's going to take time, a lot of time but i think probably we will look at turning off one, the older one pretty quickly and keep the other one going.

Maybe optimising it. Maybe using more scrap in it. As in the US and even in Scunthorpe they often use 25 to 30 percent scrap. So we will see how we can optimise the new blast furnace.

– Sanjeev Gupta, Liberty Steel
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Port Talbot management 'in steelworks takeover bid'

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