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Port Talbot management in 'steelworks takeover bid'

A potential buyout of the Port Talbot steelworks is to be led by one of its most senior staff.

Stuart Wilkie, Managing Director of Tata Strip Products UK, is heading up a buying team alongside other staff members, ITV News understands.

Meanwhile Tata Steel has announced another round of job cuts in Britain as it significantly reduces production.

The company is to cut 1,050 jobs in the UK, including 750 at its plant in Port Talbot in Wales. A further 300 jobs will go in Llanwern, Trostre, Corby and Hartlepool.

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Government 'deeply disappointed' by Tata Steel job cuts

Business minister Anna Soubry said the Government is working to help Tata. Credit: PA

The latest jobs cuts at Tata Steel are "deeply disappointing", small business minister Anna Soubry said.

Following Monday's announcement of 1,050 job losses, she said: "The steel industry is having to take tough decisions in the face of extremely challenging conditions but this is deeply disappointing news.

"Our immediate focus will be on working with the Welsh Assembly to support workers in South Wales as well as other Tata UK sites to find new jobs as quickly as possible.

"The Government continues to engage closely with Tata on how we can help during this difficult period.

"The Government has taken clear action to help the industry, through cutting energy costs, taking action on imports, Government procurement and EU emissions regulations, meeting key steel industry asks."

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Port Talbot management in 'steelworks takeover bid'

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