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Management buyout plan to save Milford Haven refinery | Management buyout plan to save Milford Haven refinery |
(about 14 hours later) | |
A management buyout is planned in a bid to save a closure-threatened oil refinery in Milford Haven. | A management buyout is planned in a bid to save a closure-threatened oil refinery in Milford Haven. |
The managing director of Murco Tom McKinlay has taken a leave of absence as part of the proposal for the Pembrokeshire plant. | The managing director of Murco Tom McKinlay has taken a leave of absence as part of the proposal for the Pembrokeshire plant. |
A potential £300m deal including the refinery broke down last month leaving its future in jeopardy. | |
A task force was set up to try to prevent the closure and protect 400 jobs. | A task force was set up to try to prevent the closure and protect 400 jobs. |
The refinery has been a major employer at the port since it opened in 1973. | The refinery has been a major employer at the port since it opened in 1973. |
Murco has confirmed that Mr McKinlay has left his position to avoid a conflict of interest. | Murco has confirmed that Mr McKinlay has left his position to avoid a conflict of interest. |
Mr McKinlay is said to have announced the move to Murco employees on Friday. | Mr McKinlay is said to have announced the move to Murco employees on Friday. |
Economy Minister Edwina Hart has said the refinery is "integral to the fabric of the oil and gas infrastructure in Wales and the Welsh economy". | Economy Minister Edwina Hart has said the refinery is "integral to the fabric of the oil and gas infrastructure in Wales and the Welsh economy". |