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Corus assurances over Welsh jobs Corus assurances over Welsh jobs
(20 minutes later)
Corus has sought to reassure workers in Wales over steel jobs after accepting a takeover offer from an Indian rival.Corus has sought to reassure workers in Wales over steel jobs after accepting a takeover offer from an Indian rival.
The company, 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."The company, 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."
Chief executive Philippe Varin said it was about "building a global company which will have an outstanding position in the world".Chief executive Philippe Varin said it was about "building a global company which will have an outstanding position in the world".
Welsh secretary Peter Hain earlier said he was seeking "urgent assurances".Welsh secretary Peter Hain earlier said he was seeking "urgent assurances".
He said the plants' contribution was "vital" to the Welsh economy.He said the plants' contribution was "vital" to the Welsh economy.
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 said it currently employed 3,166 people at Port Talbot, 1,800 at Llanwern and 1,000 at Shotton Corus currently employs 3,166 people at Port Talbot, 1,800 at Llanwern and 1,000 at Shotton.
It also has processing units at Llanelli and Ammanford.It 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'
Asked about job security at a news conference, Ratan Tata, chairman of Tata Group, gave no details of plans but conceded that savings had been identified, including within manufacturing.
It also emerged at the conference that steel cost twice as much to produce in south Wales as in India.
Mr Tata said the aim of the takeover was to "make a stronger single company out of this in the course of time".
Conservative assembly economic spokesman Alun Cairns said it was "absolutely essential" workers were reassured about their employment prospects, pay and pensions.Conservative assembly economic spokesman Alun 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."
South Wales West AM Dai Lloyd AM said he was worried about steel slab production moving to cheaper labour markets.South Wales West AM Dai Lloyd AM said he was worried about steel slab production moving to cheaper labour markets.
¿It is vital that the Labour governments in both Cardiff and Westminster do all in their power to ensure that Corus jobs in Wales are safe,¿ he said. "It is vital that the Labour governments in both Cardiff and Westminster do all in their power to ensure that Corus jobs in Wales are safe," he said.
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: "There will not be any immediate moves because this deal is not about plant relocation. It is about growth."He said: "There will not be any immediate moves because this deal is not about plant relocation. It is about growth."
A spokesman for the company in Wales added: "There is a lot of enthusiasm for what has happened today down here in Wales. This is a business decision and it is all about growth and improvement."A spokesman for the company in Wales added: "There is a lot of enthusiasm for what has happened today down here in Wales. This is a business decision and it is all about growth and improvement."
The steel union Community, said it was "urgently seeking talks with the company on a range of issues, in particular its plans for investment in the UK".The steel union Community, said it was "urgently seeking talks with the company on a range of issues, in particular its plans for investment in the UK".