Advertisement

  1. National

Port Talbot management launch takeover bid

Stuart Wilkie, Managing Director of Tata Strip Products UK, is heading up a bid to buy Port Talbot steelworks, it has been confirmed.

Mr Wilkie says his plan could offer "sustainable future success".

The investment he is seeking from employees could be as much as £10,000 each, according to sources. Private investors and government support would also be needed.

View all 8 updates ›

Kinnock supports Port Talbot management buyout

Port Talbot. Credit: PA

Welsh Labour MP Stephen Kinnock says a proposed management buyout of the Port Talbot steelworks is the "right way to go".

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

Ever since Tata Steel decided to sell its Strip Products UK business I have felt that a management buy-out (MBO), based on the proposals that are outlined in the turn-around plan, was the right way to go in principle.

But of course the MBO has to have the right team and the right financial backing, if it is to work in practice.

– Stephen Kinnock MP
  1. Read more
  2. 8 updates
Port Talbot management launch takeover bid

More on this story