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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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Tata Steel job losses a 'severe blow', says Welsh Secretary

750 jobs are to be cut at Port Talbot in Wales. Credit: PA

Welsh Secretary Stephen Crabb said the proposed Tata Steel job losses are a "severe blow" to Port Talbot and the local economy.

"Workers and their families at the plant face a deeply worrying time, and our priority is to help those likely to be affected," said Mr Crabb.

"The UK Government will keep doing what it can to support a steel industry suffering intense pressures from cheap steel imports and a global slump in prices. That involves working with Tata to ensure they remain a significant presence in South Wales."

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Port Talbot management in 'steelworks takeover bid'

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