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Steel plant could lose 2,000 jobs Steel plant could lose 2,000 jobs
(21 minutes later)
Steelmaker Corus is to mothball its Teesside plant threatening the jobs of nearly 2,000 workers.Steelmaker Corus is to mothball its Teesside plant threatening the jobs of nearly 2,000 workers.
Workers at the Teesside Cast Products plant in Redcar were told the news ahead of a 90-day consultation.Workers at the Teesside Cast Products plant in Redcar were told the news ahead of a 90-day consultation.
Owner Corus said the development had become "unavoidable" because of the end of a contract with four international steel slab buyers.Owner Corus said the development had become "unavoidable" because of the end of a contract with four international steel slab buyers.
Steel union Community expressed "outrage" and said it would work to secure future steelmaking on Teesside.Steel union Community expressed "outrage" and said it would work to secure future steelmaking on Teesside.
Corus said the development was due to the termination of a contract by four international slab buyers. Corus said the development was due to the termination of a contract by four international slab buyers which had made the Redcar plant "unviable.".
Community general secretary Michael J Leahy said: "This is appalling news. We cannot believe that the consortium is taking such irresponsible action that will have a devastating effect on our members and the whole community in Teesside." The agreement was signed in 2004 and committed the consortium to buy just under 78% of the plant's production for 10 years.
In January, the steelmaker announced it was cutting 3,500 jobs worldwide, including about 2,500 in the UK. Appalling news
Corus chief executive Kirby Adams said: "I am extremely disappointed that the consortium members have seen fit to take this irresponsible action.
"Their unilateral termination of a legally binding 10-year contract could bring to an end a fine heritage of steelmaking at Teesside.
"We regret the distress their action will cause TCP's dedicated employees, who have worked steadfastly in the interests of the consortium."
It has started discussions with the 1,920 employees at the plant but said any decision to mothball is likely to lead to a significant number of redundancies.
Community general secretary Michael J Leahy said: "This is appalling news. We cannot believe that the consortium is taking such irresponsible action that will have a devastating effect on our members and the whole community in Teesside.
"The consortium has made this disgraceful move, knowingly jeopardising the livelihoods of thousands of workers who are the innocent victims of this.
"These multi-nationals have reaped hundreds of millions of pounds in profits and are now walking away from their legal, moral and social responsibilities."
Anglo-Dutch firm Corus, owned by Indian conglomerate Tata since 2007, said it was using all legal means to ensure the terms of the contract were enforced and that the four members of the consortium lived up to their contractual obligations.
The company said it would continue to explore any alternative options that might secure a viable future for the Teesside Cast Products site at Redcar (TCP) and its employees.