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| 170 jobs going at aluminium plant | 170 jobs going at aluminium plant |
| (10 minutes later) | |
| Administrators say the Dolgarrog Aluminium factory in the Conwy Valley in north Wales is to close. | Administrators say the Dolgarrog Aluminium factory in the Conwy Valley in north Wales is to close. |
| It had been hoped a new buyer could be found for the plant which employs around 170 workers. | It had been hoped a new buyer could be found for the plant which employs around 170 workers. |
| Dolgarrog Aluminium produces a range of products, turning over £19m last year, and is a major employer in the area. | Dolgarrog Aluminium produces a range of products, turning over £19m last year, and is a major employer in the area. |
| Administrators KPMG had said they hoped to sell the plant when they were appointed last month but they are now starting to wind the operation down. | Administrators KPMG had said they hoped to sell the plant when they were appointed last month but they are now starting to wind the operation down. |
| Dolgarrog Aluminium was set up five years ago following a management buy-out of the former Alcoa plant and it is Britain's only integrated casting and rolling aluminium mill. | |
| The company celebrated its 100th anniversary of aluminium making on the site this year. It supplies products to industries including electrolytic zinc extraction and aerospace engineering. | |
| A KPMG spokeswoman said some employees were told on Wednesday they would be made redundant. | |
| Serious blow | Serious blow |
| "We had been hopeful we'd be able to find a buyer for the business but those interested in buying couldn't come up with the necessary funds," she said. | "We had been hopeful we'd be able to find a buyer for the business but those interested in buying couldn't come up with the necessary funds," she said. |
| "The process of winding down means not everybody will leave immediately but all the jobs will go when the winding down process is complete." | "The process of winding down means not everybody will leave immediately but all the jobs will go when the winding down process is complete." |
| Plaid Cymru Aberconwy AM Gareth Jones said news that the plant was to close was a "shock" and a "serious blow". | Plaid Cymru Aberconwy AM Gareth Jones said news that the plant was to close was a "shock" and a "serious blow". |
| "The loss of 170 jobs is something that we can ill afford," Mr Jones said. | "The loss of 170 jobs is something that we can ill afford," Mr Jones said. |
| He said he would be holding talks later on Thursday with the local council and the Deputy First Minister Ieuan Wyn Jones to see if anything could be done to stop the plant closing. | He said he would be holding talks later on Thursday with the local council and the Deputy First Minister Ieuan Wyn Jones to see if anything could be done to stop the plant closing. |
| He said Dolgarrog Aluminium still has full order books and he understood the problem the company faced was one of cash flow, and if that was so, he was hoping money could still be found. | He said Dolgarrog Aluminium still has full order books and he understood the problem the company faced was one of cash flow, and if that was so, he was hoping money could still be found. |
| When the plant went into administration, Ieuan Wyn Jones said ministers wanted to do "everything they can" to help and a short term funding package has been agreed to help the firm keep trading. | When the plant went into administration, Ieuan Wyn Jones said ministers wanted to do "everything they can" to help and a short term funding package has been agreed to help the firm keep trading. |
| The package had been agreed in principle involving Finance Wales, a Welsh Assembly Government subsidiary. |