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.
A senior manager at Port Talbot steelworks says his plan to stage a management buyout of the loss-making plant from Tata Steel could offer "sustainable future success".
Stuart Wilkie, the Managing Director of Tata's strip products, issued this statement:
Stuart Wilkie believes the loss-making business can be turned around, but at this stage we know little about what he proposes.
A potential buyout of the Port Talbot steelworks is to be led by one of its most senior staff, ITV News understands.