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| Version 0 | Version 1 |
|---|---|
| Hain seeks Corus job assurances | Hain seeks Corus job assurances |
| (40 minutes later) | |
| Welsh secretary Peter Hain is seeking assurances over steel jobs in Wales after Corus said it was accepting a takeover offer from an Indian rival. | Welsh secretary Peter Hain is seeking assurances over steel jobs in Wales after Corus said it was accepting a takeover offer from an Indian rival. |
| Corus, which employs 7,900 in Wales, mostly at Port Talbot, Llanwern and Shotton, said the £4.3bn offer from Tata Steel was "not about job losses." | |
| Mr Hain said the plants made a "vital" contribution to the Welsh economy. | Mr Hain said the plants made a "vital" contribution to the Welsh economy. |
| Alun Cairns, Conservative assembly economic spokesman, said he had fears if there was a downturn in the market. | Alun Cairns, Conservative assembly economic spokesman, said he had fears if there was a downturn in the market. |
| Mr Hain said he would be contacting Tata and Corus executives and the Indian High Commission. | Mr Hain said he would be contacting Tata and Corus executives and the Indian High Commission. |
| "This take-over could present enormous opportunities for the plants because of direct links to the huge burgeoning Asian steel markets," he said. | "This take-over could present enormous opportunities for the plants because of direct links to the huge burgeoning Asian steel markets," he said. |
| "But I will be keeping the situation closely monitored." | "But I will be keeping the situation closely monitored." |
| Corus also has processing units at Llanelli and Ammanford. | |
| If approved by Corus shareholders, the deal would create the world's fifth-biggest steel firm. | If approved by Corus shareholders, the deal would create the world's fifth-biggest steel firm. |
| 'Outstanding position' | 'Outstanding position' |
| Mr Cairns said it was "absolutely essential" workers were reassured about their employment prospects, pay and pensions. | Mr Cairns said it was "absolutely essential" workers were reassured about their employment prospects, pay and pensions. |
| "I would have concerns for the industry in Wales if there is a downturn in the market as it is cheaper to manufacture steel in countries like India than it is in Europe. | "I would have concerns for the industry in Wales if there is a downturn in the market as it is cheaper to manufacture steel in countries like India than it is in Europe. |
| "It is crucial the assembly government meets with the company to ensure that the interests of the industry in Wales are not ignored." | "It is crucial the assembly government meets with the company to ensure that the interests of the industry in Wales are not ignored." |
| Corus chief executive Philippe Varin told the BBC that the deal was "not about job losses." | Corus chief executive Philippe Varin told the BBC that the deal was "not about job losses." |
| He said: "This deal is about building a global company which will have an outstanding position in the world and steel which is consolidating. | He said: "This deal is about building a global company which will have an outstanding position in the world and steel which is consolidating. |
| "There will not be any immediate moves because this deal is not about plant relocation. It is about growth." | "There will not be any immediate moves because this deal is not about plant relocation. It is about growth." |