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India Tata Steel plans to stop the sale of British assets
Sources: | Release date: 2016-06-03 | Views:
Tags:Indian Tata Steel, stop, sale

Earlier this year, Mumbai-based Tata Steel released plans to sell all of the company's production base in the UK, including Port Albert is located Port Talbot is Britain's largest steel mills. However, in the report, "Sunday Times" quoted sources as saying: "India plans to sell off the EU will bring new giant of uncertainty."

He reported that Tata Steel board of directors has not yet made a formal decision on this, in particular the recent rebound in steel mills to reduce the loss of South Wales, and therefore selling pressure decreases. The company will wait for the British government to cut £ 14 billion pension debt, and negotiations on EU trade agreements, the final result.

Tata Steel is undoubtedly the decision of bidders in terms of a fatal blow. "Sunday Times" has also previously reported that Tata Steel Europe off before it intends to retain its UK assets.
It is reported that Tata Steel is one of the world's largest steel producer, is the most important steel manufacturer British. Last year, Tata Steel contributed about 70% of the UK steel production, local employs 15,000 people, accounting for up to 62.5%.

Although the status quo Port Talbot steelworks far less, but still employ about 4,000 people. Tata Steel is one of the most important private employer in Wales, the contribution of 3% of GDP for the Welsh economy. In January, Tata Steel announced the layoff of 1,000 people, including 750 jobs belong Port Talbot steelworks.

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